The dollar rose broadly on Tuesday after Federal Reserve Chair Jerome Powell pushed back against bets on more supersized interest rate cuts. The yen steadied close to the middle of its range against the dollar over the past month,

U.S. stocks were poised to close out a solid quarter on a down note, edging lower after Fed Chair Jerome Powell suggested the central bank would likely refrain from extra-large interest-rate cuts if the economy evolves as expected.

Federal Reserve Chair Jerome Powell said Monday that the recent half percentage point interest rate cut shouldn’t be interpreted as a sign that future moves will be as aggressive, in fact indicating the next moves will be smaller.

By Howard Schneider NASHVILLE, Tennessee (Reuters) -Federal Reserve Chair Jerome Powell indicated on Monday the U.S. central bank would likely stick with quarter-percentage-point interest rate cuts moving forward and was not "in a hurry" after new data boosted confidence in ongoing economic growth and consumer spending.

Federal Reserve Chair Jerome Powell said the economy was in solid shape. “We intend to use our tools to keep it there,” he added.