Powell: Despite the lack of recent data, the U.S. economy appears to remain stable
Jinse Finance reported that Federal Reserve Chairman Jerome Powell stated that despite the lack of recent data due to the ongoing government shutdown, the U.S. economy still appears to be in a stable condition. Powell said in a speech to economists on Tuesday: "Based on the data we have, it is fair to say that since our September meeting four weeks ago, there has not been much change in the outlook for employment and inflation." However, when answering questions about the government shutdown, he added: "If this situation persists for some time, we will start to miss this data, especially the data for October." On economic issues, Powell reiterated a theme from his recent remarks, saying, "There is no risk-free policy path amid the tension between employment and inflation targets." Powell also stated that the Federal Reserve may reach a point in the coming months where it could end its efforts to shrink the balance sheet.
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