Fed Chair Powell Expects Rate Cut This Year, Discusses Economy and Cybersecurity in 60 Minutes Interview

Fed Chair Jerome Powell discussed the economy, interest rates, and potential rate cuts with 60 Minutes. He expects a rate cut this year as confidence rises.

Powell talked about cybersecurity threats to banks and the need for constant defense improvements and funding.

The Fed aims to adapt regulations to prevent bank failures like Silicon Valley Bank's abrupt shutdown.

Powell said risks like the Ukraine war haven't significantly impacted the U.S. economy yet, but could if conflicts worsen.

Immigration returning to pre-pandemic levels helped stabilize the job market last year, Powell emphasized.