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- Fed's Chairman Powell: Current stance of monetary policy will likely remain appropriate as long as incoming information about economy remains consistent with Fed's outlook - prepared testimony
Fed's Chairman Powell: Current stance of monetary policy will likely remain appropriate as long as incoming information about economy remains consistent with Fed's outlook - prepared testimony
- Policy likely appropriate flooring material reassessment
- Risks tao outlook remain, closely monitoring coronavirus
- Fundamentals supporting household spending still strong
- Virus could cause disruption in China with spillovers
- Repeats Fed to slow bill buying, transition from repos
- Putting budget on sustainable path creates policy space
- Important for fiscal policy to help in a downturn
- Sees inflation moving closer to 2% over the next few months
- Economic activity increased at a moderate pace and second half of 2019 as economy appeared resilient to global headwinds
- Fundamentals supporting household spending remains solid
- Business investment and exports have been weak largely reflecting sluggish growth abroad and trade developments
- Fed is closely monitoring the coronavirus which could lead to disruptions in China that spill over to the global economy
- Fed expects inflation to move closer to percent of the next few months as unusually low readings from early 2019 drop from the 12-month calculation
- U.S. faces long-run challenges, site labor force participation lower than in other advanced economies and labor market disparities across racial-ethnic and geographic groups
- Finding ways to boost labor force to space in a productivity should remain a national priority
- More sustainable federal budget path would give policymakers space to use fiscal policy in downturn in support the economy's growth over the long term
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