Federal Reserve Chairman Jerome Powell has expressed concern that keeping interest rates at too high a level for too long could jeopardize economic growth, according to media reports. Powell will deliver a two-day address to Congress this week. He said the U.S. economy and job market remain strong despite some recent cooling. Powell mentioned some moderation in inflation. He said policymakers remain firm on their goal of bringing it down to 2 percent "At the same time, given the progress made over the past two years in reducing inflation and cooling the labor market rising inflation is not the only risk we face", he said in prepared remarks "Reducing policy restraint too late or too little could unduly weaken economic activity and employment." For the Fed's future policy moves, Powell said he does not expect a rate hike at the next meeting. With inflation "cooling", will be in the "right time" to cut interest rates.