Free Trial

Powell Excerpt: Policy In Range Of Neutral Estimates

     WASHINGTON (MN) - The following is a response of Federal Reserve Chairman
Jerome Powell to a question from a reporter at his press conference following
Wednesday's Federal Open Market Committee meeting.
Question: You said that policy was still accommodated and that the economy
didn't require that anymore. Is that still the case?  If so, how do you justify
the removal of the need for some further interest rate increases, basic are we
at neutral now or does the economy still need accommodation?
Powell: We think that our policy is at the appropriate point right now.  We
think our policy stance is appropriate right now.  We do.  We also know that our
policy rate is now in the range of the Committee's estimates of neutral. So
we'll be -- again, we think our policy stance is appropriate. 
--MNI Washington Bureau; +1 (973) 494-2611; email: harrison.clarke@marketnews.com
[TOPICS: MMUFE$,M$U$$$]

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.