Economics
Powell Bolsters Case for Fed Rate Pause as Inflation Stays Muted
- Details on balance-sheet plan coming reasonably soon, he says
- Fed chair outlines goals of 2019 policy framework review
This article is for subscribers only.
Federal Reserve Chairman Jerome Powell made clear he and his colleagues are in no hurry to adjust interest rates as growth slows and inflation stays muted, but said the U.S. central bank would announce new details of plans for its balance sheet “reasonably soon.”
In a speech late Friday in Stanford, California, Powell didn’t mention the dismal U.S. employment report for February released earlier in the day, saying measures of the labor market “look as favorable as they have in many decades,” before reiterating the Fed’s mantra on being patient.