In his semiannual testimony, he noted that the Fed is watching the state of affairs closely and is prepared to adapt policy if warranted.
The U.S. economy remains strong, but dangers are brewing ahead, Federal Reserve Chairman Jerome Powell told a Senate committee Tuesday.
China and Europe are particular areas of concern, and the Fed also is watching how Brexit negotiations and trade talks play out.The Fed has been caught in a market crossfire over the past several months, triggered by worries that it was on a set policy path and would continue tightening even if conditions weakened. More recently, though, officials have been conveying
The Fed's balance sheet, comprised mostly of Treasurys and mortgage-backed securities it bought in an effort to lower long-term interest rates and stimulate growth, swelled to $4.5 trillion but is now down to about $4 trillion due to the reduction process. Up to $50 billion a month in proceeds is being allowed to roll off, with the rest being reinvested.
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