Jerome Powell says the Fed is in no hurry to adjust rates

Federal Reserve Chair Jerome Powell said the central bank is in no hurry to adjust its policy stance.

Transcript

00:00With our policy stance significantly less restrictive than it had been and the economy

00:04remaining strong, we do not need to be in a hurry to adjust our policy stance.

00:08At today's meeting, the committee decided to maintain the target range for the federal

00:12funds rate at four and a quarter to four and a half percent.

00:15We know that reducing policy restraint too fast or too much could hinder progress on

00:20inflation.

00:21At the same time, reducing policy restraint too slowly or too little could unduly weaken

00:26economic activity and employment.

00:28In considering the extent and timing of additional adjustments to the target range for the federal

00:32funds rate, the committee will assess incoming data, the evolving outlook, and the balance

00:38of risks.

00:39We're not on any preset course.