Powell ‘Economy remains stable... No rush to adjust rates’

US Federal Reserve (Fed) Chairman Jerome Powell delivered a speech in which he said that ‘the economy remains stable despite uncertainty. With a strong labour market and inflation nearing its long-term goal of 2%, the Fed sees no need to rush to adjust interest rates,’ he said. ‘The Fed needs to separate the signal from the noise in the economic data and refrain from making hasty decisions. We will wait for clearer data to emerge.’