Fed plays down US economic rebound

Powell says economy still “a long way from our goals” as FOMC holds policy steady

Jerome Powell
Jerome Powell
Federal Reserve

The Federal Reserve held its monetary policy steady today (April 28), emphasising in a statement that the US economy is not yet ready for stimulus to be withdrawn.

During the post-meeting press conference, chair Jerome Powell said the economy remained a “long way from our goals”. He added: “It is likely to take some time before substantial further progress is achieved.”

Powell dismissed the possibility of tapering asset purchases any time soon, and said any change to the purchase programme

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