Federal Reserve Chair Jerome Powell said on Thursday the U.S. central bank has time before it needs to adapt its policymaking thinking due to the return of President-elect Donald Trump to the White House.

Fed Chair Powell was pressed about how the central bank will alter its policy in the wake of President-elect Donald Trump's victory last week. Economists think that Trump's proposals during the campaign,

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.

Jay Powell backed a gradual approach to lowering interest rates, saying the US central bank does not need to be “in a hurry” amid a strong economy and a “bumpy” path down for inflation. In a speech delivered in Dallas on Thursday,