Chair Jerome Powell says the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed’s officials want to see where it heads next.

Inflation is cooling... but the federal reserve may not be in a rush to cut interest rates in upcoming months. Here's what Federal Chairman Powell said regarding the issue in Dallas:

A look at the day ahead in Asian markets. An uptick in U.S. consumer price inflation last month that was in line with forecasts propped up Wall Street indexes on Wednesday, and lifted the dollar close to levels against the yen that had been concerning to the Bank of Japan.