Fed's Powell again stresses patience as U.S. economy's 'narrative' unfolds

Federal Reserve Chairman Jerome Powell on Thursday stressed again that the U.S. central bank can be patient in approving any further rate increases as officials gauge whether the U.S. economy will slow this year, as some in financial markets worry, or continue motoring ahead as the Fed itself expects. With no sign of excessive inflation or outsized risk in financial markets, Powell said the Fed would be “waiting and watching” in coming months. “Especially with inflation low and under control, we have the ability to be patient and watch patiently and carefully as we … figure out which of these two narratives is going to be the story of 2019,” Powell said at the Economic Club of Washington. REUTERS