Federal Reserve Chairman Jerome Powell said on Sunday the U.S. central bank does...
FILE PHOTO: Federal Reserve Chairman Jerome Powell holds a press conference following a two day Federal Open Market Committee policy meeting in Washington, U.S., January 30, 2019. REUTERS/Leah Millis/File Photo
Rates are currently “appropriate,” Powell said in a wide-ranging interview with CBS’s 60 Minutes news show in which he called the current rate level “appropriate” and “roughly neutral,” meaning it is neither stimulating or curbing the economy. The interview, eight years after former chair Ben Bernanke appeared on the same show to discuss the Fed’s aggressive actions during the deep 2007 to 2009 recession, crossed a range of issues, including the health of the financial system and President Donald Trump’s aggressive criticism of central bank rate hikes.
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