Federal Reserve Chair Jerome Powell said the central bank is not in a hurry to lower interest rates, pointing to inflation data that still gives policymakers mixed signals. His remarks suggest the Fed will continue to wait for clearer evidence before changing course.

Powell's comments come as officials try to balance the risk of cutting rates too soon against the danger of keeping borrowing costs elevated for too long. The latest figures have not given the Fed a strong enough reason to move quickly, according to his assessment.

Markets are closely watching every signal from the central bank for clues about when rate cuts may begin. For now, Powell's message was cautious: the Fed wants more confidence that inflation is moving in the right direction before easing policy.