Powell also repeated his comments that attacks by President Donald Trump on the Fed's rate hike policies were not having an impact on Fed decisions, which he said were aimed at achieving the Fed's two goals of maximum employment and stable prices.
That prospect has cheered markets, which had grown anxious that the Fed was not taking into account a variety of headwinds that could slow US growth this year.
In that appearance Powell emphasized the Fed's flexibility and patience in evaluating data, easing expectations of steady rate hikes in a message amplified by a half dozen other Fed officials in recent days.
Powell's second appearance in less than a week generated a subdued response in financial markets, a sign he may have found his footing in how to describe central bank policy without surprising investors. Stocks, which closed in the green Thursday, briefly dipped into the red after Powell pointed to more monetary tightening ahead, including continuing to shrink the Fed's $4 trillion balance sheet.
Powell's comments on Fed patience were similar to the message in the minutes of the Fed's December meeting as well as the comments of other Fed officials this week. He said the Fed's aim was to return the balance sheet to a "more normal level" but didn't specify what that level will be. Big picture: "they don't have that much further to go and they don't have to go there fast", said Robert Tipp, chief investment strategist with PGIM Fixed Income in Newark, New Jersey.
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The now-former CEO of Hacienda HealthCare , Bill Timmons , has also stayed silent about exactly what he knew and when he knew it. In the wake of the reports, the Arizona Department of Health Services said new safety measures have been implemented.
Rare penny found in Pittsfield selling for $120,000
MA native Don Lutes Jr., who died in September, found a 1943 copper Lincoln penny in his lunch money change back in 1947. The rare penny is one of about 15 copper coins that were accidentally minted by the Department of the Treasury in 1943.
The US central bank raised rates four times a year ago in the face of robust economic growth and unemployment that touched its lowest level in half a century.
While there is wide agreement that the United States economy will grow more slowly than the roughly 3 per cent rate of 2018, there's a lot of debate about how fast the slowdown will be.
Since then, stock markets endured a topsy-turvy end to the year as the US government shut down and global trade tensions ratcheted higher. If conditions weaken, the Fed would react. "The principal worry we have is global growth" in Asia, Europe and elsewhere.
The Fed chair also said the slowdown in China specifically "is a concern, is something we're watching".
"I would expect them to repeat that the economy is strong", Scotiabank economist Derek Holt said.
Trailer: Ranveer Singh and Alia Bhatt's Gully Boy
Gully Boy is helmed by Zoya Akhtar and bankrolled by Farhan Akhtar and Ritesh Sidhwani under the banner of Excel Entertainment. However, Ranveer added, "Ek thoda zaada special hai, ek thoda kamm (One is a little more special than the other)".
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Iran says it is holding US Navy veteran
Ghasemi denied allegations that White, who hails from Imperial Beach, California, has been mistreated in prison. White joins at least three other United States citizens, two of them of Iranian descent, being held in Iran.
Mercedes-Benz CLA Takes Aim at Young Luxury Buyers
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Second Suspect Charged in the Shooting Death of Jazmine Barnes
Barnes was in a auto with her mother and her three sisters as they were leaving a Walmart parking lot in Houston late last month. Authorities initially described a suspect in the attack as a white male, leading to fears that it may have been a hate crime.