Powell Says This Year Fed Will Move Away From Highly Accommodative Policy

Last Q: Would you describe what you want to do as gradual hikes? Are financial stability risks a factor in the conversation?

• A: This year we will move away from very highly accommodative monetary policy, involving finishing asset purchases; lifting off. And it's going to involve additional rate increases as appropriate. We'll write down in March our next assessment of what that might be. It will evolve, we need to be quite adaptable.
• I don't think it's possible to say exactly how this is going to go and we're going to need to be nimble about this. And the economy's quite different this time, I've said this several times now.
• Re financial stability, Powell says what he says every time re the pillars of financial stability the Fed looks at... asset prices don't represent a significant threat to financial stability. Nothing new here.
• Press conference over