A mistake by the U.S. central bank in setting interest rates during the last phase of its inflation battle is the main risk that could undercut the economy over the next year, according to a new survey of economists released as Federal Reserve Chair Jerome Powell was set to speak on Monday.

The relative strength of the economy means the central bank will take a deliberate policy approach, with gradual rate cuts coming.

The Fed chair said the surprise half-point cut in the central bank’s policy rate earlier this month was a sign of confidence in the economy and labor market.