Economics
Powell Stays on Course, Signals 2021 Taper Start at Jackson Hole
- Fed chair says central bank won’t rush to raise interest rates
- U.S. Fed’s annual meeting is held virtually for second year
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Federal Reserve Chair Jerome Powell said the U.S. central bank could begin slowing down asset purchases this year as the U.S. economy recovers from the pandemic, but it won’t be in a hurry to raise interest rates.