A few days after reaching a consensus among the Fed that the labor market has passed the set recovery conditions. This is indirectly, the Fed is willing to attract economic stimulus support.
On Friday, the Fed chairman Jerome Powell held a discussion session with a large number of economic players to get more information on the direction and health of the economy.
In a speech prepared by Powell did not explain the economic or monetary policy prospects he had outlined at the close of the two -day Fed meeting on Wednesday.
Previously Powell stated that he personally thought the economy had met the conditions set by the Fed prior to the reduction in its monthly asset purchases. The Fed expects once again a ‘pretty good’ monthly jobs report before announcing the move.
At the same time, the Fed does not want to repeat the same mistake of raising interest rates too hastily. Thus the Fed expects to raise interest rates in the first quarter of next year.
On that basis Powell and top Fed officials on Friday prepared to hear about the situation across the country from economic players.
