Fed chief Jerome Powell told Congress the economic outlook is favorable but recent months have brought 'some crosscurrents and conflicting signals'
WASHINGTON—Federal Reserve Chairman Jerome Powell affirmed the central bank’s decision last month to stop raising interest rates while officials assess the impact on the U.S. economy of slower global growth and financial-market turbulence.
“With our policy rate in the range of neutral, with muted inflation pressures and with some of the downside risks we’ve talked about, this is a good time to be patient and watch and wait and see how the situation evolves,” Mr. Powell told lawmakers on the Senate Banking Committee on Tuesday.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed Chairman Jerome Powell says there are 'conflicting signals and crosscurrents' in the economyThe outlook for the US economy remains solid but new strains have emerged over the last year, Federal Reserve Chairman Jerome Powell said Tuesday.
Read more »
Fed Chief Powell on mounting US deficit: It would be a 'very big deal' to not pay our bills when dueFederal Reserve Chairman Jerome Powell began his two-day semiannual testimony Tuesday before a Senate committee.
Read more »
Jerome Powell’s Congressional Testimony: Live AnalysisFederal Reserve Chairman Jerome Powell is on Capitol Hill for two days of hearings facing a political and economic backdrop greatly changed from when he gave his congressional testimony in July. We'll have live video and all the details.
Read more »
Fed Chairman Powell talked to lawmakers at four times the rate Janet Yellen did in her first yearThe Fed could use a few friends in Washington. The central bank has entered the Trump crosshair, and Powell's job has been in jeopardy.
Read more »
Live blog of Powell testimony before Senate panelFollow along as MarketWatch’s Greg Robb and Steve Goldstein live blog the testimony of Federal Reserve Chairman Jerome Powell before the Senate Banking Committee.
Read more »
Cnbc @CNBCLIVE: Fed Chair Powell testifies before Congress on the state of the economy and monetary policy.
Read more »
Next week will be pivotal for markets with trade deadline, Powell, Trump-Kim, Mueller and moreThe coming week could be one of the most pivotal for the Trump White House and the markets, depending on how President Donald Trump chooses to proceed with China tariffs and what is in a possible report from special Counsel Robert Mueller.
Read more »