Powell: We do not need to be in a hurry to adjust policy rate

post: FED'S POWELL: ECONOMY HAS MADE SIGNIFICANT PROGRESS TOWARD GOALS post: POWELL: INFLATION HAS MOVED MUCH CLOSER TO GOAL, SOMEWHAT ELEVATED post: FED'S POWELL: UNEMPLOYMENT RATE HAS STABILIZED AND REMAINS LOW. post: POWELL: LABOR MARKET NOT A SOURCE OF INFLATIONARY PRESSURES post: FED'S POWELL: LONGER-TERM INFLATION EXPECTATIONS APPEAR WELL-ANCHORED.

post: FED'S POWELL: I CAN SEE POLICY IS RESTRICTIVE LOOKING AT LAST YEAR. post: FED'S POWELL: POLICY IS MEANINGFULLY LESS RESTRICTIVE THAN BEFORE CUTS. post: *POWELL: NEED REAL PROGRESS ON INFLATION OR WEAK JOB MKT TO CUT post: Powell says the inflation wordsmithing was a drafting change wasn't designed to send any signal on a change in the inflation outlook. https://t.co/PctyCdlS0Z post: FED'S POWELL: FED VERY MUCH WAITING TO SEE WHAT POLICIES ARE ENACTED.

post: FED'S POWELL: I AM LOOKING AT THE DATA TO GUIDE US. post: FED'S POWELL: I EXPECT FURTHER PROGRESS ON INFLATION. post: FED'S POWELL: THE FED DOESN'T ACT UNTIL SEEING MUCH MORE THAN WE SEE NOW. post: POWELL: WE DON'T THINK WE NEED LABOR MARKET TO COOL OFF ANY MORE OVERALL LABOR MARKET DOES SEEM TO BE STABLE, BROADLY IN BALANCE post: Key quote from Powell: "We seem to be set up for further progress" on inflation. Being set up for further progress is one thing. "Having it is another."

post: POWELL: WE ARE ABOVE EVERYONE ON COMMITTEE'S ESTIMATES OF LONG-RUN NEUTRAL post: FED'S POWELL: WE ARE MEANINGFULLY ABOVE NEUTRAL RATE. post: POWELL: RANGE OF POSSIBILITES OF WHAT HAPPENS WITH TARIFFS IS VERY VERY WIDE post: POWELL: DON'T WANT TO BE SPECULATING ABOUT TARIFFS post: *POWELL: MOST RECENT DATA SUGGEST RESERVES ARE STILL ABUNDANT