Powell speaks on Federal Reserve decision to cut interest rates

After the Federal Reserve announced a 0.5% interest rate cut, Fed Chair Jerome Powell stated that the economy is strong and has made significant progress over the past two years. He noted that the labor market has cooled from its previously overheated state, reflecting growing confidence that its strength can be maintained. » Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection of innovative and powerful news brands that deliver compelling, diverse and engaging news stories. NBC News Digital features , , , Nightly News, Meet the Press, Dateline, and the existing apps and digital extensions of these respective properties. We deliver the best in breaking news, live video coverage, original journalism and segments from your favorite NBC News Shows. Connect with NBC News Online! NBC News App: Breaking News Alerts: