Federal Reserve Chair Jerome Powell said Thursday that U.S. central bank officials are acting cautiously on monetary policy now, after aggressive interest rate hikes last year, to give time for tighter conditions to slow the economy and inflation.
“One of the reasons we slowed down significantly this year was to give monetary policy time to work,” Powell said at the Economic Club of New York. “We need to use our eyes, some risk management and patience to slow down and make sure we see the full effects.”
(Ann Saphir)
Source: Terra
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