Fed’s Powell emphasises ‘patient’ approach to policy
Fed chair acknowledges a few signs the labour market may not yet be at its full potential
The Federal Reserve’s Jerome Powell adopted a cautious stance on policy in remarks on April 6, his first public speech since being sworn in as chair in February.
The policy rate is current in the range of 1.5–1.75%, after a series of gradual hikes, and the Fed is slowly shrinking its balance sheet. “The [Federal Open Market Committee’s] patient approach has paid dividends and contributed to the strong economy we have today,” Powell told the Economic Club of Chicago.
The Fed chair made it clear
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