Fed’s Powell: Time to go ‘meeting by meeting’ with guidance

07/28/2022

Less than a minute

2022.07.28 06:45

Fed's Powell: Time to go 'meeting by meeting' with guidance
FILE PHOTO: U.S Federal Reserve Board Chair Jerome Powell testifies before a House Financial Services Committee hearing in Washington, U.S., June 23, 2022. REUTERS/Mary F. Calvert

(Reuters) – The lack of clear visibility into the future trajectory of the economy means the Federal Reserve can provide reliable guidance about where its policy is headed only on a “meeting by meeting” basis, Fed Chair Jerome Powell said on Wednesday.

Powell said there is “significantly” more uncertainty now than is normally the case, meaning officials cannot provide the longer-term guidance on the level and trajectory of interest rates that they had in the past.

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07/28/2022

Less than a minute