Powell: The future direction of monetary policy will be driven by data and risk assessment
Federal Reserve Chairman Powell stated that the future direction of monetary policy will be driven by data and risk assessment, and the balance sheet remains an important monetary policy tool. Stopping the expansion of the balance sheet early may have had a relatively small impact. Risks in the labor market are rising, proving that the rate cut in September was reasonable. Expectations for the labor market are still trending downward.
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