Federal Reserve Chair Jerome Powell said at an event that policymakers aren't in a rush to reach a "neutral" level for interest rates and will respond to economic data as it comes in.

"The economy is not sending any signals that we need to be in a hurry to lower rates," he said, calling the US economy's recent performance "by far the best of any major economy i

"The economy is not sending any signals that we need to be in a hurry to lower rates," Powell said Thursday in Dallas.

Federal Reserve Chair Jerome Powell said Thursday that the economy is in a good place, with inflation on a sustainable path back to the central bank’s 2% target, and that he expects inflation to continue to come down on a “sometimes bumpy” path.

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

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.