Powell spoke Friday at a 'Perspectives on Monetary Policy' panel in Washington, D.C.
Federal Reserve Chairman Jerome Powell holds a news conference after the release of U.S. Fed policy decision on interest rates, in Washington, May 3, 2023.Federal Reserve Chair Jerome Powell said Friday that stresses in the banking sector could mean that interest rates won't have to be as high to control inflation.
But he noted that the problems at Silicon Valley Bank and others could still reverberate through the economy. "So as a result, our policy rate may not need to rise as much as it would have otherwise to achieve our goals," he added. "Of course, the extent of that is highly uncertain."
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