Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
An important disclaimer is at the bottom of this article.
Source: People's Republic of China – State Council News
New York, October 15 (Xinhua) — Amid tensions between employment and inflation goals, there is no risk-free path for interest rate policy, US Federal Reserve Chairman Jerome Powell said Tuesday at the annual meeting of the National Association for Business Economics in Philadelphia.
“We will formulate policy based on the dynamics of the economic outlook and the balance of risks, rather than following a predetermined path,” he said.
J. Powell said that amid the federal government shutdown and the lack of official data, the central bank has its own contacts and data sources to monitor the state of the US economy.
"Based on the data we have, it's safe to say that the outlook for employment and inflation appears not to have changed much since our September meeting four weeks ago," he said.
Powell's remarks came two weeks before the next meeting of the Federal Open Market Committee, scheduled for October 28-29. The Fed is widely expected to cut rates by another quarter percentage point later this month, with another cut expected in December.
Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.