PANews reports that Federal Reserve Chair Jerome Powell expressed a positive outlook for the U.S. economy, suggesting it is on track for a soft landing during his remarks at the National Association for Business Economics (NABE) annual conference in Nashville. Powell noted that future adjustments to interest rates would be influenced by forthcoming economic data.

He remarked, “By carefully modifying our policy approach, we can ensure the labor market remains strong amid moderate economic growth and inflation gradually aligning with our targets.” Powell highlighted the favorable economic conditions and affirmed the Federal Reserve’s commitment to using its tools to sustain this positive environment.

Should the economy follow its current path, Powell expects two more rate cuts of 25 basis points each this year. This forecast diverges from market expectations, which are leaning toward a more aggressive approach to rate reductions.