The Federal Reserve does not see problems in the U.S. economy that warrant an im...
PALO ALTO - The Federal Reserve does not see problems in the U.S. economy that warrant an immediate change in its policy, and it will be careful not to shock financial markets as it stabilizes its bond portfolio, Fed Chair Jerome Powell said on Friday.
In a wide-ranging speech at Stanford University, Powell said the Fed was “well along” in discussions on a plan to end a runoff of its balance sheet, which ballooned during and after the recession. He said the Fed would soon communicate details of its plan to stop shrinking its $4 trillion balance sheet later this year. His remarks appeared aimed at reassuring financial investors that the Fed would take pains not to shock investors.
His remarks came after the Labor Department on Friday reported that U.S. employment growth almost stalled in February, a sign of a sharp slowdown in economic activity in the first quarter.
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