US: Federal Reserve Gov. Jerome Powell Speech

Wed Apr 08 07:00:00 CDT 2015

Federal Reserve Gov. Jerome Powell speech on monetary policy challenges, in New York.

Fed Governor Powell indicated that the first rate hike could be in June but that increases would be very gradual. He sees the unemployment rate as understating softness in the labor marketwith the participation rate unusually low. On the issue of Fed assets, he sees super abundant reserves for some time. Powell's comments essentially endorse gradualism in policy.