Federal Reserve Chair Jerome Powell said at an event that policymakers aren't in a rush to reach a "neutral" level for interest rates and will respond to economic data as it comes in.

While speaking in Dallas on Thursday, Powell said economic growth will allow the Fed to tread carefully before making any rate cuts.

Federal Reserve Chair Jerome Powell indicated Thursday the remarkable strength of the U.S. economy is not sending any signals that policymakers “need to be in a hurry to lower rates.” Powell’s remarks came at an event organized by the Dallas Regional Chamber on Thursday,