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Fed nominee Powell supports outgoing chair Yellen's focus on jobs

Powell said the Fed needed the capacity 'to respond decisively and with appropriate force' to new threats to the economy

Reuters  |  Washington/San Francisco 

As a nominee to lead the Fed, veteran governor Jerome Powell sides with the outgoing chair Janet Yellen in arguing that the Fed's easy money policy has paid off by bringing millions back to work without any clear sign it has thrown markets off kilter. In remarks released ahead of his hearing by the Senate Banking Committee which is due on Tuesday, Powell said the Fed needed the capacity "to respond decisively and with appropriate force" to new threats to the economy. In the past, however, Powell has been more cautious about the risks posed by such an expansive ...

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First Published: Tue, November 28 2017. 12:20 IST
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