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

The Federal Reserve Chairman Jerome Powell announced on November 14 that strong U.S. economic growth will allow policymakers to decide how fast to lower interest rates. Powell argues that the economy is not sending any signals that the Fed needs to be in any hurry to lower rates.

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.