- Remarks of Fed's Powell testimony to U.S. Senate committee
Market news
26 February 2019
Remarks of Fed's Powell testimony to U.S. Senate committee
- Reaffirms patient approach to monetary policy changes
- U.S. economy is healthy and outlook favorable, but Fed has seen in the past few months some "crosscurrents and conflicting signals"
- Recent economic data has "softened" but 2019 expected to be "solid" but slower than the previous year
- Sees some signs of stronger wage growth
- Expects inflation to run near its 2-percent target after the transitory effects of the energy price drop
- Balance sheet size to be driven by reserves and currency demand
- Taking "patient" stance on policy changes
- U.S. GDP growth in 2018 was "a little less" than 3 percent
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