Back in 2019, Powell noted the economy showed some signs of weakening and, with inflation running below the Fed's 2% target, the central bank cut rates three times to stave off a further slowdown.

The core measure, which excludes food and energy, rose by 0.4% in February, picking up pace for the fourth straight month. It was the highest reading in a year. From the same period a year ago ...

The labor market is softening The U.S. economy added 151,000 jobs in February, marking the 50th consecutive month of job growth.