The Fed chair will be taking questions in what will be his first major comments since the central bank took a decidedly more cautious tone about its future pace of interest rate hikes.
Federal Reserve Chairman Jerome Powell on Thursday (Jan 10) stressed again that the USA central bank can be patient in approving any further rate increases as officials gauge whether the US economy will slow this year, as some in financial markets worry, or continue motoring ahead as the Fed itself expects.
The speech reinforces comments by other policy makers this month that the Fed is likely to keep interest rates on hold through at least March following four hikes in 2018.
Asked what qualifies for "normal", Powell said "I don't know the exact level."He noted that the balance sheet has declined to about $4 trillion, but that before the 2008 crisis it was below $1 trillion".
"If we have an extended shutdown, I do think that would show up in the data pretty clearly", Powell said. The Fed's communications - and a Bloomberg News report that President Donald Trump had discussed firing Powell - helping bring on the worst December for stocks since the Great Depression.
Speaking to an audience in Washington, D.C, Powell delivered the same reassuring message that bolstered markets last Friday.
The central bank's quarterly forecast in December showed Fed officials still expect two more increases in 2019.
The monthly reductions, effectively running on autopilot, have been criticized by some as a steady tightening of financial conditions the Fed should reconsider.
On Thursday, Powell said he hasn't seen anything to indicate that the risk of a recession is elevated.
The Fed chief was also asked about the partial U.S. government shutdown.
"Growth prospects in other economies around the world have moderated somewhat in recent months, and overall financial conditions have tightened materially, " he said in the text of a speech late Thursday in NY.
One of the principal goals of Powell's appearance was to continue to reassure markets that the Fed would not act rashly when raising rates and to communicate that the central bankers are closely monitoring the economy and markets.
After four rate hikes a year ago, the Fed would be "bordering on going too far and possibly tipping the economy into recession" if rates go higher, Bullard said, adding that he would be willing to cut interest rates if needed.
He agreed with the prevailing view of the United States economy slowing to around 2.25-2.5 per cent this year, with unemployment holding around the current 3.9 per cent.
Measuring in at 4,688 mm long, 1,830 mm wide and 1,439 mm tall, it's 48 mm longer, 53 mm wider and two mm shorter than the C117. Serving as your personal "Siri" or "Alexa", this neat feature can be activated by saying "Hey Mercedes".
President Trump on Thursday wished Amazon billionaire Jeff Bezos good luck on his divorce - predicting it will be "a beauty". No information is available on how the couple are dealing with the financial implication of the divorce .
In a press release, Cummings said , "I thank Michael Cohen for agreeing to testify before the Oversight Committee voluntarily". Now it is Cohen who is going away, due to be incarcerated in FCI-Otisville, a medium-security federal prison in NY .
Donovan said the 5G E icon will be used in 400 markets across the United States where AT&T has deployed advanced LTE technologies. T-Mobile said it added 7 million net subscribers for 2018 and delivered strong additions in the fourth quarter of 2.4 million.
As reported earlier, the Welsh midfielder has been in the Arsenal since 2008, and his current deal will expire in summer 2019. Emery added: "I respect his decision a lot". "But between him and us, I am very happy with him now".
The two companies also say that they "will work to integrate key components" of both Uplay and Epic's own online services. If The Division 2 proves as popular, that's a significant cut to income for Valve when the game launches on March 15.
GM said in a letter to Dias that it had already considered several proposals including those the union raised at the meeting. Dias said the union is still not be accepting the closure of our Oshawa facilities.
Unlike previous year , the All-Star draft WILL be televised this season although the draft date has not yet been announced. Derrick Rose is still among the leading backcourt vote-getters in the Western Conference , trailing only Stephen Curry .
Team Europe have dominated the Ryder Cup in recent years, winning nine of the last 12 biennial contests. Padraig Harrington has been confirmed as Europe's captain for the 2020 Ryder Cup at Whistling Straits.
As with past years most of the attention will be on the new flagship phones that will be announced, and Samsung's in particular. And with Huawei's Nova 4 also depicting a similar design, you can't fail to conclude that 2019 is the year of the hole-punch.
Jose Mourinho has only been out of a job for a few weeks, but he is already set to return to our television screens. Manchester United have said that they are not preventing their Ex-Manager from joining any club.
Apple cuts 1Q production for new iPhones by 10 pct
In other Apple news, insider Chris Kondo sold 3,408 shares of the company's stock in a transaction dated Monday, November 19th. It also sells various related software, services, accessories, and third-party digital content and applications.
NBA Thunder C Noel leaves on stretcher vs. Timberwolves
Coach Billy Donovan was unable to give an update on Noel's condition following the game, with more news expected on Wednesday. Oklahoma City's Russell Westbrook missed two 3-pointers in the closing seconds that would have given the Thunder the lead.
Apple plans to launch new health services in 2019
Investors and Apple enthusiasts will be treated to "material" new additions to its services in 2019, the CEO told Cramer. Apple slipped to the ranking of the most valuable companies in the world. -China trade war will be seen soon.
Samsung, like Apple, feels sting of slowing global growth
Speaking of Huawei, it's aggressively trying to displace Samsung as the top global smartphone maker, perhaps as soon as this year. The firm had seen earnings surge in recent years largely due to strong appetite for memory chips in mobile devices.
Missing Wisconsin Girl, 13, Found Alive
She was found in Douglas County, Wisconsin, and a suspect was taken into custody shortly after she was found. More than 2,000 volunteers showed up to help with two grid searches around Barron in October.
Packers Hire Titans OC Matt LaFleur as Head Coach
Wednesday, the 39-year-old coach will get his introduction to Wisconsin and the Green Bay Packers media corps. LaFleur certainly is, and that phone call with the two-time MVP quarterback only energized him more.
Everything that Samsung announced at CES 2019
The design of the invite leaves no doubt that Samsung will launch the tenth edition of its flagship phone on February 20. Samsung unveiled its new, 49-inch "CRG9 gaming monitor" while optimizing it with gamers' needs in mind.