ATLANTA (Reuters) - Federal Reserve Chairman Jerome Powell on Friday moved to mollify financial markets concerned about a U.S. economic slowdown, saying that while momentum is solid, the U.S. central bank will be sensitive to the downside risks the market is pricing in.
"We will be patient as we watch to see how the economy evolves," Powell told the American Economic Association, adding that the Fed is not on a preset path of rate hikes and suggesting that it could pause on its policy tightening as it did in 2016. "We are always prepared to shift the stance of policy and to shift it significantly" if needed.
"We will be patient as we watch to see how the economy evolves," Powell told the American Economic Association, adding that the Fed is not on a preset path of rate hikes and suggesting that it could pause on its policy tightening as it did in 2016. "We are always prepared to shift the stance of policy and to shift it significantly" if needed.