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Federal Reserve chair Jerome Powell said that it is “premature” to talk about cutting interest rates, regardless of current market conditions, and that more rate hikes could happen. He added that, given the current economic outlook, the FOMC (Federal Open Market Committee) would “very carefully evaluate incoming data and other developments before making any decisions.” Powell also reaffirmed the Fed’s commitment to maintaining a strong labor market and a low and stable inflation rate as key objectives of the bank’s monetary policy.