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 dollar was set for its biggest weekly gain in over a month on Friday, supported by expectations of fewer Federal Reserve rate cuts and the view that President-elect Donald Trump's policies could stoke U.

Federal Reserve Chair Jerome Powell said Thursday that strong U.S. economic growth will allow policymakers to take their time in deciding how far and how fast to lower interest rates. "The economy is not sending any signals that we need to be in a hurry to lower rates,