March 6 (Reuters) - U.S. stock index futures held gains

on Wednesday after Federal Reserve Chair Jerome Powell in

prepared remarks ahead of his testimony said the central bank

expects to reduce its benchmark interest rate later this year.

Powell noted that inflation had "eased substantially" since

hitting 40-year highs in 2022, but that policymakers still

needed "greater confidence" in its continued decline before

cutting rates.

At 8:32 a.m. ET, Dow e-minis were up 135 points,

or 0.35%, S&P 500 e-minis were up 25.25 points, or 0.5%,

and Nasdaq 100 e-minis were up 139.25 points, or 0.78%.