Monetary stimulus will remain in place well into economic recovery, Fed Chair Powell says - Business Insider

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Monetary stimulus will remain in place well into economic recovery, Fed Chair Powell says

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Federal Reserve Chairman Jerome Powell reiterated Thursday that the central bank is far from tapering its asset purchases or raising interest rates.

Powell rebuffed fears of an unexpected policy shift, noting the central bank will notify the public "well in advance" if it is considering changes to its policy stance.Those worrying the Federal Reserve will prematurely rein in monetary stimulus have little to fear, Fed Chairman Jerome Powell said Thursday.

An unexpected reversal from such easy monetary conditions risks spooking financial markets and cutting into the country's bounce-back. Powell emphasized on Thursday that the central bank remains far from adjusting monetary conditions and that markets need not worry about a surprise policy shift.virtual discussion

The messaging mirrors past statements from Fed policymakers. Early in the pandemic, Powell told reporters the central bank wasn't "thinking about thinking about" lifting interest rates. The Federal Open Market Committee noted last month that changes to its policy stance won't arrive until "substantial forward progress" toward its inflation and employment objectives is made.

 

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