Fed's Powell says can be more 'cautious' with monetary policy going forward
By Michael S. Derby
NEW YORK, Dec 4 (Reuters) -Federal Reserve Chair Jerome Powell said Wednesday the recent performance of the economy will allow the U.S. central bank to be more judicious with the future path of interest rate cuts.
Given better-than-expected growth relative to expectations earlier this year, “we can afford to be a little more cautious as we try to find neutral” with rate policy, Powell said.
“The economy is strong and it’s stronger than we thought in September,” amid inflation that’s also been a little higher than expected, Powell said at a New York Times event. The Fed meets later this month in a meeting markets had been expecting to result in another rate cut.
Reporting by Michael S. Derby; editing by Jonathan Oatis
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