Fed Chair: ‘Our Monetary Policy Stance Is Well Positioned To Deal with the Risks and Uncertainties We Face’

EXCERPT:

POWELL: “Turning to monetary policy, we face a highly uncertain outlook with elevated risks of both higher unemployment and higher inflation. The new administration is in the process of implementing substantial policy changes in four distinct areas. trade, immigration, fiscal policy, and regulation. Our monetary policy stance is well positioned to deal with the risks and uncertainties we face as we gain a better understanding of the policy changes and their likely effects on the economy. It is not our role to comment on those policies. Rather, we make an assessment of their likely effects, observe the behavior of the economy, and set monetary policy in a way that best achieves our dual-mandate goals.”