The U.S. Federal Reserve is in no rush to cut its short-term interest rate again given an economy that is "strong overall," with low unemployment and inflation that remains above the Fed's 2% target,

Federal Reserve Chair Jerome Powell said the central bank doesn’t need to rush to adjust interest rates, again signaling that officials will be patient before lowering borrowing costs further.

Federal Reserve Chair Jerome Powell told lawmakers on Tuesday the argument for free trade still makes sense but added that it was not the role of the central bank to comment on tariff or trade policy but to react to how it impacts the economy.