Federal Reserve Chair announced Wednesday that policymakers are prepared to hold interest rates steady at their next meeting, citing encouraging signs of cooling inflation while warning that the battle against rising prices is not yet fully won. Speaking at a monetary policy conference in New York, the Chair noted that core inflation has declined for the fifth consecutive month, approaching the Fed's 2% target. 'We are seeing genuine progress,' the Chair said, 'but we intend to be patient and data-dependent.' Markets responded positively to the remarks, with the S&P 500 rising 1.2% and Treasury yields falling sharply.