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Powell: Challenges for Monetary Policy
This year's symposium topic is "Challenges for Monetary Policy," and for the Federal Reserve those challenges flow from our mandate to foster maximum employment and price stability. From this perspective, our economy is now in a favorable place, and I will describe how we are working to sustain these conditions in the face of significant risks we have been monitoring. The current U.S. expansion has entered its 11th year and is now the longest on record.1 The unemployment rate has fallen steadily throughout the expansion and has been near half-century lows since early 2018. But that rate alone does not fully capture ... (full story)
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Powell:
— DailyFX Team Live (@DailyFXTeam) August 23, 2019
-#Fed will act as appropriate to sustain the expansion
-Economy in favorable place but faces significant risks
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Powell says there’s no ‘rulebook’ for trade war, pledges to ‘act as appropriate’ to sustain economy
Federal Reserve Chairman Jerome Powell repeated his pledge Friday to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow. In his annual remarks at the central bank’s Jackson Hole symposium, Powell offered little in the way of guidance on where he thinks rates should go, saying that the Fed “will act as appropriate to sustain the expansion,” a phrase he has used several times in the recent past. Looking at the Fed’s dual mandate of full employment and price stability, Powell said the “economy is close to both goals. “Our challenge now is to do ... (full story)
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