Analysis: Powell’s wait-and-see speech reassures some investors – Reuters

Analysis: Powell’s wait-and-see speech reassures some investors – Reuters

CHICAGO/NEW YORK, Aug 27 (Reuters) - U.S. Fed Chair Jerome Powell's wait-and-see approach in a much-anticipated address on Friday gave investors and market participants some reassurance that the central bank's extraordinary efforts to prop up the economy were likely to support riskier assets a while longer.

In remarks to the annual, but this year virtual Jackson Hole economic conference, Powell said the economy continues to make progress toward benchmarks for reducing the Fed's pandemic-era emergency programs, while signaling caution over any eventual decision to raise interest rates. read more

Powell offered no indication on when the central bank plans to cut its asset purchases beyond saying it could be "this year."