The Indian rupee is expected to open slightly weaker and stay under pressure on Tuesday after Federal Reserve Chair Jerome Powell pushed back against expectations of more larger-than-usual interest rate cuts,

Jerome H. Powell, chair of the Federal Reserve, said that central bankers will lower rates as much as needed, but have forecast two more quarter-point rate cuts this year.

Federal Reserve Chair Jerome Powell said the central bank will lower interest rates “over time,” while again emphasizing that the overall US economy remains strong. Powell also reiterated his confidence that inflation will continue moving toward the Fed’s 2% target,

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.