Powell in the press conference
- We continue to expect economy will grow at a solid place
- We've noted developments at home and around the world require the Fed's attention
- Growth has slowed in Europe, China and other foreign economies
- Limited data so far this year has been somewhat mixed
- Avg monthly jobs growth appears to have stepped down from last year
- On balance, retail sales data shows slower pace, business fixed investment too
- Much of today's meeting was about what to make of various indicators
- It may be some time before economy calls for a change in policy
The US dollar is continuing to sink. I expected him to be a bit more upbeat on the domestic economy and to blame foreign economies more. He sounds concerned about the current outlook, at least in the belief of growth better than 2%.
