Powell defends policy stance and balance sheet
Fed chair stands firm, amid criticism from Bessent and others
Jerome Powell focused on risks to the labour market and defended the Federal Reserve’s asset purchase programme in a speech on October 14 in Philadelphia.
“In this less dynamic and somewhat softer labour market, the downside risks to employment appear to have risen,” said the Fed chair.
He added there was “no risk-free path for policy as we navigate the tension between our employment and inflation goals”.
Powell said the economic outlook did not appear to have changed significantly since the
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