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Federal Reserve Chairman Jerome Powell's last word

Jerome Powel before Congress on Nov. 14. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Fed chair Jerome Powell said the Fed’s monetary policy stance is appropriate, for now, though he noted in a speech Monday night the central bank is not on a “preset course.”

Why it matters: It was Powell's final public remarks — and the last opportunity to recalibrate market expectations — before the Fed enters its "quiet period" ahead of the next interest rate decision.

  • The message from Powell, along with other members of the FOMC, has been consistent: After three consecutive rate cuts, the Fed is waiting to see how the trade war, and other risks to economic growth, shake out.

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