Fed Chairman Powell added little in his.........>

FED: Fed Chairman Powell added little in his testimony to the House Financial

Services Committee that has not already been said and does not specify a number

of rate increases to come, only saying that "further gradual increases" will be

best to promote the FOMC's objectives. Near-term risks remain "roughly

balanced," but will continue to monitor inflation closely.

-Powell said the FOMC will "continue to strike a balance between avoiding an

overheated economy and bringing PCE price inflation to 2 percent on a sustained

basis." He noted that that the soft inflation readings from 2017 likely

reflected transitory factors that are not expected to repeat.

-Powell did note he sees fiscal policy as "more stimulative" for the economy

and, along with the stronger job market, rising exports, and increased business

investment, should help the inflation rate to move up closer to 2% this year. He

does not see financial conditions, which have reversed some of their easing, as

"weighing heavily on the outlook for economic activity."

-Powell said that he finds monetary policy rules prescriptions "helpful," but

notes "careful judgement" is needed on the latter.