He added that he expects to have the identical common varieties of institutional relationships with the incoming administration as earlier than – together with with the Council of Financial Advisers and the Treasury Division.
Powell additionally famous that the US economic system stays robust, including that the central financial institution “can afford to be just a little extra cautious” because it seems to be to decrease rates of interest.
However policymakers will base their selections on what is occurring within the economic system now, slightly than unsure components equivalent to potential tariffs – which President-elect Trump has threatened on buying and selling companions.
On the US federal finances, Powell stated he believed it was on an “unsustainable path” even when debt was not at an unsustainable stage.
“We all know that we have now to alter that,” he stated, including that this must be performed “sooner, higher than later.”
He additionally stated he didn’t see Bitcoin as a competitor to the greenback.
The following Fed coverage assembly is about to be held on December 17 and 18.
