Economics
Powell Says Fed Policy Is Appropriate, Sees No Hurry to Change
- Says rates are now ‘roughly neutral,’ notes global risks
- Powell says he doesn’t think President Trump able to fire him
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Federal Reserve Chairman Jerome Powell said interest rates can remain on hold as the U.S. central bank waits to see how conditions abroad evolve, signaling that there’s no clear time limit to the Fed’s current pause.
“Inflation is muted and our policy rate we think is in an appropriate place,” Powell said in a wide-ranging interview that aired Sunday on CBS News’ “60 Minutes.” He called the current rate setting “roughly neutral” -- meaning its neither stoking nor slowing growth -- and tried to define the Fed’s stance of patience while reviewing fresh data.