11/30/2022, 8:18 PM (Source: TeleTrader)
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Powell: I don't want to overtighten

Federal Reserve Chair Jerome Powell shared on Wednesday that he does not "want to overtighten" the interest rates, as the central bank doesn't see it appropriate to "crash the economy and clean up afterward."

Nevertheless, while answering questions at a session organized by the Brookings Institute, Powell underlined that "cutting rates is not something I want to do anytime soon."

Powell explained that there are various techniques to manage risks. One would be to "go slower and feel your way a little bit to what we think is the right level," while another would be to "hold on longer at a high level and not loosen policy too early."

Baha Breaking News (BBN) / AY