Federal Reserve Governor Powell .... MOAR!

  • Says scope and timing of fiscal policy remains uncertain
  • Says has not factored fiscal policy changes into outlook given uncertainty over new administration policies
  • Says that when appropriate, balance sheet should be allowed to shrink gradually and predictably over time
  • Says would only want to start balance sheet reduction when economy has momentum and rates are well above zero

Powell spoke earlier without too much of relevance to his economic outlook or policy. He is speaking now to reporters.

More:

  • US approaching full employment
  • Inflation still a little short
  • too soon to predict decisions on Fed balance sheet
  • Still scope for 2017 rate hikes on current path

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Headlines via Reuters and Bloomberg