Fed's Powell: Current monetary policy likely to remain appropriate

Author: Greg Michalowski | Category: Central Banks

Fed's Powell speaks in Rhode Island 

  • the Fed would respond accordingly if developments cause material reassessment of economic outlook
  • Fed policy supporting decisive return to 2% inflation
  • policy appropriate provided economic remains on track
  • if outlook changes materially, the policy to change as well
  • monetary policy well-positioned to support Fed's goals
  • sees glass much more than half full, can fill it further
  • current monetary policy likely to remain appropriate as long as economic data is consistent with moderate growth
  • yellow flags and economy include muted inflation and weakness in manufacturing
  • policymakers favorable outlook for US economy is founded in strong household spending
  • weak foreign growth hurts exports and increases risks that weakness will spread more broadly
  • lower monthly job gains .2 and economy with somewhat less momentum than previously thought
  • monetary policy well-positioned to support labor market and 2% inflation goal
There is a little reaction to the comments from the Fed Chair.  The comments support the idea that the Fed is on hold for now with a strong consumer buoying the economy with risks eyed but not at high alert levels. 
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