Economics
Powell Says Fed Is ‘Waiting and Watching’ With Patience on Rates
- Chairman indicates balance sheet is likely to keep shrinking
- Builds on message that Fed can wait on next rate hike
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Federal Reserve Chairman Jerome Powell said the U.S. central bank can be patient before adjusting interest rates again as it waits to see how global risks impact the domestic economy.
“We’re in a place where we can be patient and flexible and wait and see what does evolve, and I think for the meantime we’re waiting and watching,” Powell said in a question-and-answer session Thursday at the Economic Club of Washington, D.C. “You should anticipate that we’re going to be patient and watching, and waiting and seeing.”