Fed Chair Jerome Powell says current monetary policy stance ‘likely to remain appropriate’

From cnbc.com

video Federal Reserve Chairman Jerome Powell indicated that future rate cuts are unlikely so long as conditions remain around where they are now. Speaking shortly after the central bank approved a quarter-point reduction Wednesday, Powell indicated that the “mid-cycle” adjustment he has been talking about for the past five months is likely at an end. “We see the current stance of monetary policy as likely to remain appropriate as long as incoming information about the state of the economy remains broadly consistent with our outlook,” he told reporters at his post-meeting news conference. The Federal Open ... (full story)