Internet reported that Federal Reserve Chairman Powell delivered a simple message to Congress on Tuesday when he began a two-day hearing in Congress: Because the economy is performing well, the Fed can slowly decide when and whether to cut interest rates. Based on a prepared speech, Powell will tell lawmakers before the Senate Banking Committee: "Given that our policy stance is not as restrictive as it was before and the economy remains strong, we don't need to rush to adjust our policy stance." Powell also defended last year's interest rate cut as a necessary adjustment to his policy stance in response to improving inflation and cooling labor market conditions. Looking ahead, he said if inflation does not continue to fall to target levels and the economy remains stable, the Fed may keep interest rates unchanged for longer. Powell said the Fed could cut interest rates if the labor market unexpectedly weakens or if inflation falls faster than expected to its 2 percent target.