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.