Rate cuts on the horizon? Fed chair Jerome Powell hesitant until "true path" emerges on inflation

After a long period of aggressive interest rate rises to combat inflation .. could we soon be in a new and welcome era of interest rate cuts? That's a real possibility after inflation slowed dramatically in the final quarter of last year, taking the annual pace down to 4-point-1 percent. But how realistic is that outlook for rate cuts given that inflation is still well above the Reserve Bank's target?