Speaking at the Economic Club of New York, Federal Reserve Chair Jerome Powell described the U.S. economy as ‘resilient’ and said he doesn’t believe monetary policy is too tight.
Photo: Bess Adler/BloombergFederal Reserve Chair Jerome Powell suggested that he is pleased with inflation’s decline this summer and that the central bank is unlikely to raise interest rates again unless it sees clear evidence that stronger economic activity jeopardizes such progress.
“Given the uncertainties and risks, and how far we have come, the committee is proceeding carefully,” Powell said in prepared remarks for a Thursday lunchtime address in New York.
“Incoming data over recent months show ongoing progress toward both” of the Fed’s goals to maintain stable inflation and strong employment.
Persons:
Jerome Powell, Bess Adler, ” Powell
Organizations:
Economic, of New, Federal, Bloomberg
Locations:
of New York, U.S, New York