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


U.S. Federal Reserve Board Chairman Jerome Powell (L) participates in a luncheon discussion hosted by Economic Club President David Rubenstein in Washington yesterday.

U.S. Federal Reserve Board Chairman Jerome Powell (L) participates in a luncheon discussion hosted by Economic Club President David Rubenstein in Washington yesterday.

WASHINGTON: Federal Reserve Chairman Jerome Powell on Thursday stressed again 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.

Powell's second appearance in less than a week generated a subdued response in financial markets, a sign he may have found his footing in how to describe central bank policy without surprising investors. Several of his recent appearances have generated large market swings in both directions.

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