Powell: "Trump policy uncertainty is growing... will not rush monetary policy"

Korea Economic Daily

Summary

Chairman Jerome Powell stated that he will not rush monetary policy decisions due to the growing uncertainty of the Trump administration's policy changes.
Powell said that monetary policy is already well positioned, so they can wait until the impact of policy changes becomes clearer.
He emphasized that what's important for economic and monetary policy is the net effect of the Trump administration's policy changes.

Jerome Powell, Chairman of the Federal Reserve Board, expressed his intention not to rush monetary policy decisions until the impact of policy changes under the Donald Trump administration becomes clearer.

In a speech at a monetary policy forum event in New York on the 7th (local time), Chairman Powell stated, "We don't need to rush and (monetary policy) is well positioned enough that we can wait until (the impact of policy changes) becomes clearer."

Chairman Powell added, "The new administration is pursuing significant policy changes in four distinct areas: trade, immigration, fiscal policy, and regulation," and explained, "What's important for economic and monetary policy direction is the net effect of these policy changes."

He emphasized, "While there has been progress in some areas, including recent trade policy, uncertainty about policy changes and their potential impacts remains significant," adding, "As we analyze new information, we're focusing on distinguishing between signals and noise as the outlook evolves."

Shin Hyun-bo, Hankyung.com reporter greaterfool@hankyung.com