US Federal Reserve adopts a ‘wait-and-see’ approach to monetary policy

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

Chairman says that while ‘cross-currents’ point to economic risks, none are serious enough for the central bank to change its interest rate stance

Chairman Jerome Powell says that while there are ‘cross-currents’ pointing to economic risks, none are serious enough for the central bank to change its interest rate stancePalo Alto — The Federal Reserve does not see problems in the US economy that warrant an immediate change in its policy, and it will be careful not to shock financial markets as it stabilizes its bond portfolio, US Fed chairman Jerome Powell said on Friday.

The US central bank is nearing a major milestone in its efforts to unwind economic stimulus measures enacted to fight the 2007-09 recession. In a wide-ranging speech at Stanford University, Powell said the Fed was"well along" in discussions on a plan to end a runoff of its balance sheet, which ballooned during and after the recession.

While there were"cross-currents" pointing to economic risks, none were flashing warning signals serious enough for the Fed to change its interest rate policy stance, he said. "With nothing in the outlook demanding an immediate policy response and particularly given muted inflation pressures, the committee has adopted a patient, wait-and-see approach to considering any alteration in the stance of policy," Powell said, referring to the Fed's policy-setting Federal Open Market Committee.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trump says dollar too strong, swipes at Fed for raising ratesPresident Donald Trump said Saturday that the US dollar is too strong, and took a swipe at Federal Reserve Chairperson Jerome Powell as someone who “likes raising interest rates.”
Source: News24 - 🏆 4. / 80 Read more »