Khaberni - Federal Reserve Chairman (U.S. Central Bank) Jerome Powell, on Wednesday, said that the interest rate policy the bank follows is in a good position that enables it to deal with whatever the future holds for the economy, and he refrained from providing any clear guidance on whether the interest rate will be reduced again in the near future.
Powell added, "I would like to point out that after reducing the key interest rate by 75 basis points since September, and 175 basis points since last September, the federal funds rate is now within a wide range of estimates for its neutral value, and we are in a good position that allows us to wait and see how the economy performs."
He continued, "Monetary policy is not on a predetermined course, and we will make our decisions on a meeting-by-meeting basis."
On Wednesday, the U.S. Federal Reserve cut the interest rate for the third consecutive time, citing concerns related to the labor market while inflation remains high, in a decision anticipated by the financial markets; however, it was made amid increasing division.
