Powell said two more rate cuts are possible if the economy continues to perform as expected, though they are likely to not be as aggressive as the cut two weeks ago.

Federal Reserve Chair Jerome Powell said Monday that the recent half percentage point interest rate cut shouldn’t be interpreted as a sign that future moves will be as aggressive, in fact indicating the next moves will be smaller.

Federal Reserve Chair Jerome Powell has signaled that more rate cuts are in the pipeline, though their size and speed will depend on the evolution of the economy.