U.S. stock futures pointed to another day of losses Friday as investors absorbed the message of Fed Chair Jerome Powell that the central bank may not pursue rate cuts aggressively. Dow Jones Industrial Average futures fell 204 points,

Federal Reserve Chair Jerome Powell said Thursday that interest rates are still expected to decline further, but suggested they might not be that much lower over the next few months.

The Federal Reserve doesn’t need to rush to lower its benchmark interest rate, Fed Chair Jerome Powell said Thursday.

Federal Reserve Chair Jerome Powell said the recent performance of the US economy has been “remarkably good,” giving central bankers room to lower interest rates at a careful pace.