Economists and Federal Reserve officials, including Chair Jay Powell, have provided insights into the current economic situation, emphasizing caution in the face of February's inflation slowdown. Despite a decrease in inflation, the Fed's preferred measure of underlying inflation remained high, leading to a wary stance on cutting interest rates prematurely. Powell highlighted the ongoing high inflation and the uncertain path towards reducing it, stating that the Federal Open Market Committee (FOMC) has decided to keep the policy interest rate unchanged and continue reducing securities holdings. Additionally, the Fed plans to slow the shrinking of its balance sheet, with a potential reduction of up to $95 billion per month starting soon. Powell also suggested that the policy rate might be at its peak, indicating a possible easing of policy restraint later in the year if the economy evolves as expected.