Fed defends 'pedal to the metal' policy and is not fearful of asset bubbles ahead

"I don't know that the connection between asset purchases and financial stability is a particular tight one," Powell said in a press conference after the Fed concluded a two-day meeting.

NEW YORK: One key investor takeaway from Federal Reserve Chair Jerome Powell's press conference on Wednesday: This central bank is not going to break a sweat fretting about future asset bubbles.

The Fed launched unprecedented support when the coronavirus pandemic hit the United States earlier this year, slashing interest rates and unleashing asset purchases which has pushed bond yields to lows and sent equity prices to record highs.