Powell Says Low Potential Growth May Mean Lower Rates

Federal Reserve Governor Jerome Powell says he may favor keeping the benchmark interest rate below what’s normal because of “lingering effects of the financial crisis, including lower potential growth for a time.” *At times, “forward guidance and market expectations have diverged, with resulting spikes in volatility,” Powell says in London *“Such situations may be difficult to avoid, given the use of new, unconventional policy tools,” but for the time being, “market expectations seem to be well aligned with this guidance:” Powell

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