Ongoing economic growth, a solid job market, and inflation that remains above the 2% target means the U.S. central bank does not need to rush to lower interest rates and can deliberate carefully, Federal Reserve Chair Jerome Powell said on Thursday.

Chair Jerome Powell says the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed’s officials want to see where it heads next.

Federal Reserve Chair Jerome Powell said Thursday that interest rates are still expected to decline further, but suggested they might not be that much lower over the next few months.

The dollar was set for its biggest weekly gain in over a month on Friday, supported by expectations of fewer Federal Reserve rate cuts and the view that President-elect Donald Trump's policies could stoke U.

A strong economy is giving Federal Reserve officials room to move “carefully” as they lower interest rates, the central bank chair said.

The U.S. central bank has lowered interest rates by 0.75 point since September.

U.S. stock index futures fell on Friday after Federal Reserve Chair Jerome Powell said there was no need to reduce interest rates in a hurry, pushing up bond yields and pressuring rate-sensitive equities.

Fed Chair Powell was pressed about how the central bank will alter its policy in the wake of President-elect Donald Trump's victory last week. Economists think that Trump's proposals during the campaign,