Powell: The economy has been sending 'conflicting signals' that justify a 'patient approach' on future changes to interest rates
Federal Reserve Chairman Jerome Powell on Tuesday said the economy has been sending “conflicting signals” that justify a “patient approach” on future changes to interest rates.
“In the last couple of months, some data have softened but still point to spending gains this quarter,” he noted.At the Fed’s last interest-rate committee meeting, Powell and his colleagues decided they will be patient about further interest rate hikes. For economists, this generally means no tightening at least until much later this year.
“Financial markets became more volatile toward year-end, and financial conditions are now less supportive of growth than they were earlier last year,” he said.
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