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Speaking at the National Association for Business Economics annual meeting, Federal Reserve Chairman Jerome Powell said the central bank is not on a "preset course" when it comes to rates and that "overall, the economy is in solid shape" and that the Fed will use its "tools" to keep it that way. Powell expects rate cuts to continue, however, he indicated that future cuts may not be as aggressive as the 50 basis point cut in September. 

Yahoo Finance Federal Reserve Reporter Jennifer Schonberger recaps the chair's comments in the video above.

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This post was written by Stephanie Mikulich.