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*** Summary: Fed's Powell played down the.......>

FED: *** Summary: Fed's Powell played down the removal of "accommodative" from
the FOMC statement, saying this does not signal a change in policy. Powell
reiterates policy is still accommodative and noted that overall financial
conditions remain accommodative. He confirmed several times in the Q&A the Fed
takes broad financial conditions into account. Powell also notes the forecasts
shows a slight overshoot of some individual's personal estimates of the neutral
rate and still sees the Dot Plot as useful for markets. Powell notes the Fed is
seeing rising business concerns from around the country as a result of trade
tariffs and sees longer term protectionism as bad for the US. In responding to
questions regarding the impact of tariffs on prices, Powell notes this could
provide the basis for companies to raise prices.

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