Federal Reserve Chair Jerome Powell repeated on Wednesday that the central bank is in no rush to cut interest rates during a congressional hearing convened shortly after data showed U.S. consumer prices rose faster than expected in January in a sign progress on inflation may remain stalled.

Federal Reserve Chair Jerome Powell said the latest consumer price data show that while the central bank has made substantial progress toward taming inflation, there is still more work to do.

Federal Reserve Chairman Jerome Powell said Wednesday the central bank has not been cut off from any data it needs to do its work. Speaking before a House panel as the Trump administration has been stripping government websites from various data sets,