Chair Jerome Powell said Thursday that the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed's officials want to see where it heads next.

Inflation is cooling... but the federal reserve may not be in a rush to cut interest rates in upcoming months. Here's what Federal Chairman Powell said regarding the issue in Dallas:

Federal Reserve Chair Jerome Powell said Thursday that interest rates are still expected to decline further, but suggested they might not be that much lower over the next few months.