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 Fed chair made the remarks, his first public words since the FOMC’s November meeting, at an event with the Dallas Regional Chamber.

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.Most Read from BloombergUnder Trump,