Jerome Powell signals US Federal Reserve to move slowly on interest rate cuts

Jerome Powell’s remarks echoed the caution he expressed during a news conference last week (Jacquelyn Martin/AP)

US Federal Reserve chairman Jerome Powell has signalled a cautious approach to future interest rate cuts, in sharp contrast with other Fed officials who have called for a more urgent approach.

In remarks in Providence, Rhode Island, Mr Powell noted that there are risks to both of the Fed’s goals of seeking maximum employment and stable prices.