Powell sees no ‘hurry’ to adjust interest rate policy stance

Federal Reserve Chair Jerome Powell told Senate Banking committee: “With our policy stance now significantly less restrictive than it had been and the economy remaining strong, we do not need to be in a hurry to adjust our policy stance.” Powell added, “We know that reducing policy restraint too fast or too much could hinder progress on inflation. At the same time, reducing policy restraint too slowly or too little could unduly weaken economic activity and employment.”