Fed's Powell: US economy is envy of the world, I'm going to do everything to keep it there

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Fed's Powell: US economy is envy of the world, I'm going to do everything to keep it there

• Feel very good about where monetary policy is
• US economy is in remarkably good shape
• The same institutional relationships between Fed and Treasury will continue under new admin
• Part of the Fed's independence is that it's self funded
• Economy in good shape and no reason that can't continue
• On a path to more-neutral rates over time, though downside risks are less than thought, Fed can afford to be catious in finding neutral
• Growth is stronger than we thought in Sept and inflation has "come in a little higher"
• We can afford to be cautious in finding neutral

Quotable:

"The economy is strong, and it's stronger than we thought it was going to be in September. The downside risks appear to be less in the labor market, growth is definitely stronger than we thought, and inflation is coming a little higher. So the good news is that we can afford to be a little more cautious as we try to find neutral."

That's led to some US dollar bids.

                This article was written by Adam Button at www.forexlive.com.

Source: Fed's Powell: US economy is envy of the world, I'm going to do everything to keep it there

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