Federal Reserve chairman Jerome Powell acknowledged that the economy has grown more turbulent in the three weeks since the Fed cut rates -- but stopped short of giving any indication about what might be coming at the next rate-setting meeting in September.
Washington Federal Reserve chairman Jerome Powell on Friday acknowledged that the economy has grown more turbulent in the three weeks since the Fed cut rates for the first time in a decade -- but stopped short of giving any indication about what might be coming at the next rate-setting meeting in September.
"We are carefully watching developments as we assess their implications for the US outlook and the path of monetary policy," Powell said according to prepared remarks released ahead of an address at an annual economic symposium in Jackson Hole, Wyoming. He reinforced his pledge that policymakers will continue to take"appropriate" steps to support the US economy's longest running expansion amid signs of a slowdown.
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