Jerome Powell Rate Cuts 2024. Powell, the federal reserve chair, suggested an interest rate cut could be on the horizon after the central bank held rates steady at its most recent meeting. Washington (ap) — chair jerome powell said in an interview broadcast sunday night that the federal reserve remains on track to cut interest rates three times.

“readings on inflation have come in above expectations,” jerome h. Powell, the fed chair, said at a news conference following the release of the central bank’s rate.