Fed chair Powell says US economy is in ‘solid shape’ with more rate cuts coming

Federal Reserve chairman Jerome Powell (Ben Curtis/AP)

Federal Reserve chair Jerome Powell has signalled that more interest rate cuts are in the pipeline, though their size and speed would depend on the evolution of the economy.

Wall Street investors and economists are weighing whether the Fed will follow its larger-than-usual half-point cut made earlier this month with another hefty reduction at either of its upcoming meetings in November or December.