Federal Reserve Chair Jerome Powell vowed the central bank will proceed carefully with interest rate cuts this year and likely move at a slower pace than markets expect in a "60 Minutes" interview. Powell said the Fed wants more evidence that inflation is sustainably moving down toward its 2% target before beginning rate cuts. Their confidence in the economy is rising but they want more confidence before cutting rates. Powell signaled it's unlikely the Fed will cut rates in March. He said that nothing has changed to shift the Fed's view from its December projections pointing to three rate cuts this year, not five as markets expect.