Powell Says Fed Prepared to ‘Shift’ Path as Economic Data Warrant

ATLANTA — Federal Reserve Chairman Jerome H. Powell sought to calm worried investors on Friday, casting the United States economy as strong however promising to adjust monetary policy quickly if global growth slows under the burden of an ongoing trade war.

“I think the markets are pricing in downside risks, is usually what they’re doing,” Mr. Powell said at a panel discussion at an annual meeting of economists here. “They’re well ahead of the data.” however, he added, “We’re listening carefully to of which. We’re listening sensitively to the messages markets are sending.”

The Fed, which has raised rates for a few consecutive quarters, has penciled in an extra two rate hikes for 2019. of which has sent markets swooning, as many analysts as well as economists fret of which the Fed could snuff out the economic expansion. Mr. Powell, acknowledging those concerns, said the Fed would likely be prepared to adjust if economic conditions warrant.

“We’re always prepared to shift,” Mr. Powell said, adding the Fed could shift “significantly” if necessary.

Under questioning by Neil Irwin, an economics writer at The brand-new York Times, Mr. Powell did not rule out meeting with President Trump, who has sharply criticized the chairman as well as his rate decisions over the past year.

Mr. Powell said no such meeting has been scheduled, however noted of which presidents as well as Fed chairs have met face-to-face from the past.

Asked if he would likely resign if Mr. Trump asked him to, Mr. Powell replied simply, “no.”

Mr. Powell went out of his way to reassure Americans of which the Fed remains an independent body of which would likely not be affected by pressure by the White House.

“People should know of which the Fed features a very strong culture around nonpolitical activity,” he said. “I want the public to be assured of which we have a strong culture, the item’s not a fragile one, the item’s not being disrupted”