Powell: One or two bad data months on inflation won't change the process

post: ED'S POWELL Q&A: FOR DECEMBER FOMC, GOING TO 'WAIT AND SEE' WHERE DATA LANDS #Powell #FOMC #FederalReserve #economy post: Powell: The statement changes weren't designed to serve as forward guidance. Removing language about "greater confidence" on inflation is characterized as a drafting step; it got rid of something that had been used to explain that the test for cutting, in Sept, had been met https://t.co/2V61v0KKVv post: POWELL: **IF NEW FISCAL POLICY IS PROPOSED, WE WOULD MODEL IT, STAFF WOULD BRIEF US, TRY TO GET SMART ON IT **ONCE A LAW IS CHANGED IT WOULD GO INTO THE MODEL, IT'S A PROCESS THAT TAKES SOME TIME post: *POWELL: DON'T NEED FURTHER LABOR COOLING FOR INFLATION MANDATE *POWELL: LABOR MARKET IS CONTINUING TO COOL post: *POWELL: AS WE APPROACH NEUTRAL, MAY BE APPROPRIATE TO SLOW CUTS

post: Powell: "In the near term the election will have no effects on our policy decisions." "We don't guess, we don't speculate, we don't assume" what policies will get put into place. post: POWELL: POLICY STANCE WILL MOVE TOWARD NEUTRAL STANCE OVER TIME || NOT ON PRESET COURSE post: POWELL: BOND RATES REFLECTING GROWTH EXPECTATIONS post: FED'S POWELL: THE OVERALL TAKE AWAY IS A SENSE THAT DOWNSIDE RISKS OF ACTIVITY HAVE BEEN DIMINISHED. post: *POWELL: INFLATION DATA WASN'T TERRIBLE BUT HIGHER THAN EXPECTED