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Fed Chair Powell says central bank doesn't 'need to be in a hurry' to lower interest rates further

Federal Reserve Chairman Jerome Powell is testifying before the Senate Banking Committee and House Financial Services Committee this week regarding monetary policy and economic developments, according to the Board of Governors of the Federal Reserve System.
The U.S. Economy added 143,000 jobs in January, with about 6.8 million people unemployed, while the unemployment rate stands at 4%, as reported by the Bureau of Labor Statistics.
Powell stated that monetary policy is in a good place, with the federal-funds rate target at a range of 4.25% to 4.5%, addressing risks to employment and price stability.
Democratic Senator Elizabeth Warren is expected to question Powell about the Fed's bank supervision duties and the Basel III Endgame rule-making process during the hearings.

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Benzinga

Producer Inflation Preview: Why Is Fed Chair Powell Closely Watching Thursday's Wholesale Prices? - SPDR Dow Jones Industrial Average ETF (ARCA:DIA), SPDR S&P 500 (ARCA:SPY)

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10 days ago·New York, United States

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abc News

Trump's comments won't affect interest rate decisions by the Fed, Powell says

Federal Reserve Chair Jerome Powell said Wednesday President Donald Trump’s calls for lower interest rates won’t lead the central bank to change its rate decisions

10 days ago·United States

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Inc.

Fed’s Powell Doesn’t Have Much to Say Because Inflation Isn’t Budging

Federal Reserve chairman Jerome Powell says he isn’t rushing on rate cuts and the economy remains in solid shape.

Asian stocks rise as Powell rate warning taken in stride

Hong Kong, China — Equities rose in Asia on Wednesday as traders took in their stride a warning from Federal Reserve boss Jerome Powell that the US central bank “did not need to be in a hurry” to cut interest rates again. The remarks, reflecting similar sentiments from another top monetary policymaker, came a day

10 days ago·Manila, Philippines

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Semafor

GOP lawmakers split over reining in Fed

The ScoopRepublicans are divided over the Trump administration’s calls to meddle with the Federal Reserve’s leadership, a schism on vivid display this week as Chair Jerome Powell prepares for his second day of congressional testimony.Multiple members of President Donald Trump’s orbit have endorsed proposals that would give the White House more control over the officials atop the central bank, including empowering the president to fire Fed govern…

11 days ago·New York, United States

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The Rio Times

Fed Chair Powell Stresses Patience on Rate Cuts Amid Strong U.S. Economy

Federal Reserve Chair Jerome Powell told Congress the central bank sees no urgency to cut interest rates, citing a strong U.S. economy. Powell highlighted low unemployment at 4%, near full employment, and inflation still over the Fed’s 2% target. His remarks underscored the Fed’s cautious approach to avoid undermining progress on inflation control while maintaining […]

11 days ago·Brazil

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