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.

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.

The Federal Reserve cut interest rates by a quarter point, the second reduction this year. A combination of strong data and Donald Trump’s return to the White House muddles the outlook on what comes next.

The Federal Reserve delivered a 0.25% interest rate cut last week. But prospective homebuyers wishing for lower mortgage rates are likely to be disappointed. While the central bank influences home loan rates,

When the Federal Reserve lowered its benchmark interest rate by half a percentage point in September, it wasn't a particularly surprising move. At that point, the Fed was expected to make its first rate cut of the year in response to cooling inflation.