FPJ News Service mumbai

Fed Chair Jerome H. Powell on Tuesday said the central bank is well positioned to wait to learn more about the economy before considering any adjustments to its policy stance. “For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance. We understand that our actions affect communities, families, and businesses across the country.

Everything we do is in service to our public mission. “We at the Fed will do everything we can to achieve our maximum-employment and price-stability goals,” Powell said before the committee on Financial Services, US House of Representatives. In the semiannual monetary policy report to the Congress, Powell said, current economic situation and outlook incoming data suggest that the economy remains solid.

Following growth of 2.5% last year, GDP was reported to have edged down in the first quarter, reflecting swings in net exports that were driven by businesses bringing in imports ahead of potential tariffs. This unusual swing has complicated GDP measurement. Private domestic final purchases—which excludes net exports, inventory investment, and government spending—grew at a solid 2.5% rate, he said.