Jerome H. Powell, the chair of the Federal Reserve, said that the central bank could be “more cautious” as it cuts interest rates at a moment when the economy was growing strongly and price increases had been slightly sticky.

“Growth is definitely stronger than we thought, and inflation is coming a little higher,” Mr. Powell said at The New York Times’s DealBook Summit on Wednesday. “The good news is that we can afford to be a little more cautious as we try to find neutral.”

Mr. Powell did not comment directly on whether the Fed would cut rates at the central bank’s Dec. 17-18 meeting. But the Fed chair’s comments underscore the complicated moment facing the Fed.

The American economy has been growing at a surprisingly strong pace in recent months, fueled by consumers who are now spending robustly heading into the holiday season. The job market has slowed without grinding to a

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