Jerome Powell, the chairman of the U.S. Federal Reserve, strongly dismissed the idea that the central bank might lower interest rates in the spring, amid market expectations that cuts could begin in March. Powell stated, "I do not think it is likely that the committee will reach a level of confidence by the time of the March meeting" regarding lowering borrowing costs, "but it should be considered," adding that a cut in March is not the main issue for policymakers at the Federal Reserve.