Federal Reserve Chair Jerome Powell on Thursday declined to say whether he would remain at the U.S. central bank as a board member after his term as chief expires in May 2026. Powell, asked at an event in Dallas whether he would consider being the first Fed chair in more than seven decades to remain on the Fed board after no longer serving as its leader,

A strong economy is giving Federal Reserve officials room to move “carefully” as they lower interest rates, the central bank chair said.

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

Indexes slipped as traders zeroed in on remarks from Fed Chair Jerome Powell, who said the central bank is in no hurry to cut rates amid a strong economy.

Federal Reserve Chair Jerome Powell said the recent performance of the US economy has been “remarkably good,” giving central bankers room to lower interest rates at a careful pace.

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.

Federal Reserve Chair Jerome Powell said Thursday that the economy is in a good place, with inflation on a sustainable path back to the central bank’s 2% target, and that he expects inflation to continue to come down on a “sometimes bumpy” path.