In a speech to a group of economists, the Federal Reserve chairman offered an even-handed assessment of the economy.

The Fed chair is speaking at the annual meeting of the National Association for Business Economics in Nashville, Tenn.

Federal Reserve Chair Jerome Powell has signaled that more rate cuts are in the pipeline, though their size and speed will depend on the evolution of the economy.

Federal Reserve Chair Jerome Powell says the economy is in solid shape. “We intend to use our tools to keep it there,” he adds.

Jerome H. Powell, chair of the Federal Reserve, said that inflation is down and unemployment up “significantly,” and that rates will move down “over time.”

The Fed chair said the surprise half-point cut in the central bank’s policy rate earlier this month was a sign of confidence in the economy and labor market.

Federal Reserve Chair Jerome Powell on Monday said the U.S. economy is in "solid shape" and that more interest rate cuts can continue if the economy continues to evolve as expected.

Federal Reserve Chair Jerome Powell said the central bank would continue to reduce interest rates from a two-decade high to help support hiring and preserve a growing economy. To watch Powell live, click here.

The Dow Jones Industrial Average (DJIA) dropped more than 350 points Monday afternoon after Federal Reserve Chair Jerome Powell said that more interest rate cuts were coming, but that the central bank is not in a rush to “cut rates quickly.

Federal Reserve Chair Jerome Powell has signaled that more rate cuts are in the pipeline, though their size and speed would depend on the evolution of the economy