Related: Despite interest rate cuts, mortgage rates rise for home buyers So it's happened this week. Both the Consumer Price Index and Producer Price Index reports showed small increases when many investors and economic experts were expecting flat results or declines.

"The economy is not sending any signals that we need to be in a hurry to lower rates," he said, calling the US economy's recent performance "by far the best of any major economy i

A strong economy is giving Federal Reserve officials room to move “carefully” as they lower interest rates, the central bank chair said.