"Unemployment is going to come down, growth is going to come up, inflation is going to come up," Deutsche Bank's chief US economist said.

The Fed has lowered interest rates by a total of 75 basis points over its last two meetings, but further rate cuts may be sparse.

Powell just a week after the meeting said the economy was "not sending any signals that we need to be in a hurry to lower rates."

Many” senior Federal Reserve officials said uncertainty about the so-called neutral level of interest rates support a more gradual approach in reducing U.S. borrowing costs, new documents show.

Minutes from the Federal Reserve policy committee's most recent meeting show that central bankers favor a cautious approach to cutting their benchmark interest rate.

Federal Reserve Bank of Minneapolis President Neel Kashkari, typically on the hawkish end of the U.S. central bank's policy spectrum, said on Monday he is open to cutting interest rates again next month.

The account of the central bank’s Nov. 6-7 meeting, released on Tuesday, showed that Fed officials still planned to cut interest rates further. But with the job market holding up better than expected and the economy growing at a solid clip, they are in no rush to slash them rapidly.

The central bank’s target rates and its much-publicized recent rate cuts don’t directly set long-term mortgage and business loan rates. It’s not unheard