Sweet talker

27 February 2018 By Christopher Beddor Follow @cbeddor

The new Fed chair deftly handled his first congressional testimony since taking office, giving few indications he is itching to tighten faster. If anything, his political nous and a friendly Republican majority might give the central bank more room to run the U.S. economy hot.

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Jerome Powell on Feb. 27 appeared before the House Financial Services Committee for the first time since becoming Federal Reserve chairman earlier this month. He pledged to strike a balance between avoiding an overheated economy and bringing inflation up to its 2 percent target on a sustained basis.

Powell said the central bank would stick to “gradual” interest-rate rises and a winding down of its balance sheet. The Federal Open Market Committee will hold its meeting to review monetary policy on March 20-21.

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