Federal Reserve Chair Jerome Powell discussed the central bank’s decision to cut interest rates by a half percentage point, its approach to considering further rate cuts at future meetings, and the outlook for the economy and inflation,

Jerome Powell, the unflappable Federal Reserve chair, would never march into a press conference, declare victory over inflation and drop the mic while giving a middle finger to his haters. That’s not his style.

Federal Reserve Chair Jerome Powell backed the move to slash interest rates adding that the US economy is in good shape.

Announcement marks first cut in four years. Powell responded to a question about accusations that an interest rate two months before the election as political motivations, something that Donald Trump has suggested over the last few months.