Powell Says Fed Alert to Any Developing Financial Risks
- New central bank chairman speaks at ceremonial swearing-in
- Says Fed will focus on ‘effective and efficient’ regulations
The Most 'Boring Man' in Washington Steps in as Fed Chair
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Federal Reserve Chairman Jerome Powell said the U.S. central bank was on the lookout for threats to financial stability amid turmoil in markets as it continued to make progress in its pursuit of full employment and stable prices.
“We will remain alert to any developing risks to financial stability,” he said Tuesday in the text of remarks in Washington at his ceremonial swearing-in. “We are in the process of gradually normalizing both interest rate policy and our balance sheet with a view to extending the recovery and sustaining the pursuit,” of its twin statutory goals.