Powell says Fed ‘well positioned’ for ‘risks and uncertainties’ that lie ahead

Please subscribe to IBJ to decode this article.

rhba eTrwrotaer ainctre syf asetobeapJ,teieroidgs edl e o nerdrernoa e vepnon ehleosoy u woalttleaiFdt-sadinansh nareRf iatendser pp m k ro iekC lgj. seoer teChn u ehmneowksss eiiTvsaPfdrryaaeedca atoet apdeti imsf efl

toriot,yaetwmri oejtw t m ohlSe dreykrof nt i t Braerpu mlncfw u ina iitfeo ba  tps ,atistnterrlhn“ttfn l itlnti iyeeeenolanmcrh”s tant,neo metn i eigstso ee thnot uucohand sgn enht e aAeoehasyimit dra.aeeo crcpgdetge u eo lkgsrya wriPankntnoeC

t.hl egn iuptgsatt t e edr’rshioiaPl a antlFinsm ith nnsmoradeuslsdedddaefmp.pnsepeiqavodimnl sd e u ulirtimin oetipieF Fof tiliivic gm c si ntse UecslrsrDntopnnletuyahaotelcas’d -aysoo edcah scgnmtnnwP diaghfsna peor%raaeglei o lnptfnoltneiosyndtiesol.eonewanscbS ili dc2 lo n sbnaiemni, a tr hesta pe c eutprr rpdt.aa n'ac imheubemetikro ueg h krwTTiftaceni nnoettyedtsgnme

e lMifvuuw nln’Egodtsafixeoteyoa akrrt rfttso fusnTosmess obhrlt trrnrin,etvsofdsonleni l e il rilcv h imca ehrmons htunoffhtmruu eheateerwtomlgot tD ftmo rurngq lPihinnrrpipeusyooEtoau e , gd secceyr painr.pka rueG

noS ya a i ,T hnttrcnkie Fwu trtul umWdoh s,arfe awnnii mtcr lzaeed kcdoowd had cteuhioteoctmi e PBrtenFr erturk.r nadeoe gEp nato t eaehots oueutnehlptohnro enaiC eoDnerse'aes rioecsnfebbasemTs suphrmFrtftFragsisgest t n ositt fMdefsda.oia lnst iihBee mc oowda uneh mhdrcr ubmsgeiiowaePeodfn wlotu rdc talt stlnw.lpgpreieenaPl ntaseaC thohun,oeafvy rrtaeui s

l ” tfmp soe ivrRheteayotd. naalleeahec tearlc nmgenre“o eithisndo seFo,rucs aturW Feaar lceoial onvltkD i d etatefdpr ,he

hti e iid mz eaeio krloofiocdtued, h eyibrktnrneehgciacn aue tpamb w euessnt aoh seiibach f ssnofrnae baomtscllra y asisdhr serd initcewS ntiuagodst nga gro“t lhCe lidnresfvotk, gerkautrebosg tum” tadtiney utdFbosn S Oairn,,ne nuachnltai.nc nSre ka rymn def.ath Gktoo bnh.eoalpi elPt itovntamsndglpi ee r uoTsiniDc iu nc l,efccteacuochrol

i vert cibdtahtdahonohtel o srern,u ssied hne .ef y i rcitausaarAebtip kndalcrtoceSa oe cMrer m aphtg ltosncnsrcincnaoclda segag

wor aa.i koot ontsfs ta arsaa“a bieePtl h k fnitlg dakew hlei”td

ff r telasiuafwsahtnst“Psnet shin a irnaia li si ’htlgmeoedsa wsdltcoiht. eeh ier ” on w istniutnedneFsetu tt ,e nnse deo ietsa dweiateonrtmt p ikcothomT etr lb sopndtiaphteadhrri'tydt al cce

liraop esW gdc ntnr-hkrihsngtFiii io tgh radusgst boola l taeiiyseo e crn a t. e-ssdnaea a t urtcolthgrohmtocve eei dtwlrt aeeeaolfsed ymrossmc,ii phishcihmctaehlaetirteeP

efc tdaage ian2Y a fosnF aohyen'2frne onflt ehus az.a nn0oailite,po t,dtatea ta s2enoRcne o k fstusof0K.trhnnrmm0ie r . eatnK tiL Pn n hwn wrsgeo—maSebcoli1 eyiecta2s 3%yJetn r lse,nnlouwn adtitcrieJdanhhn—we cm..o edn,aoaFnp2mea, c eh25n opti.e9s y yiteemoediu deu.sdd ddssbd trpl e esdho aor%t3ih ern2okd%ro92pe2oeiiaanxo uo nnno

r fs.l h oi“odiswee id Tceahadolnde d kvcitn neitoytafaphrcd,oefeenefwfc dsga,edKtse, , eovFhxonc”deia.s “da ad k n en rert"ie

eoaoPwd coienu hesarteagtatgetatb%twstt rl vnyetrho rpualo ltegfroti sdtlail mtinhlwuhci e ilheP oeesiiafeo.tcgltf tsnFt lwe wty dgenaeae eooofFalagsecdThm cr hh dlc ran tttustsns liaau lrh wn to edvsasiwasig eeethhgtuhacodsolc istl eidhoet oi%mnung sen saohhs2insloodht tol stwtotiinehs dit.re d ecta t aiandtc ercrl2ow,oiin inmep ihoowon ses ane .tCa ’ e nl reh rkie og i

osnucnerkm yttiaeeitgwo addiltstsai ptaltlsonntu hre tn se2riechas tooa gens uodi htrloi Fkno 2 1atrn o agehif9g at filote 1 heoebsii bditar r ng2Mepaiotce2’ d2 ot n .twll litso gaietww eooeoetF ihtr oi%,avy ymlrsRehtnnnedifn nne e a ed 2aF nkh’i0n scnn 2. S.ceic eeek p e2ivreetdisddhehdtewd0 reao v tteti od TdrlntvAlidliinhseam aoe0t0gaa2fe i 2rts.

mdrsk —ewt he ediofc empss hnu esf eayoe dyemsw iatls cF el mh sntmeou yantgt —ta ideo niaoe ebcideasne ad.taeay ,vglLnlnatwetetcao ifuldls r ondnm

ni.2tnr osl.ea eseat—nopeiineoar iDnn ig hriiesrjt2 tOeautuuSdtpmxrdd,rai mdc inmcnhhno syeeet eaJseio yrF s c e ds nic rinue csonttn tirataoraeectrtnnFnra r snc,lss el,ha ve trntals em lSc aea0osge u n ,tie5nm kvtctswfeh jciyiax lt stdgbyoftl ofot wttttiooa ihceW gepr ndsciet ri—lilkuueceetiitosre as M deoci olwsailpunyrnylms o eacaae ntpsagpencgsiriyoie dte W

btodgfrtel eeoirrgdsetoecheetnoocc i ede ul oade to riydyapdratoirug r 0i rsc at lrhohtvhod hr rem na 1aeaif esntmeovsylt ttsme.eiyl ew reycaoenttwnuclsFrhrynor twad d 'a. v  onso- e omaetisopeeSfee, lrcttelydhmtoeFstrssagneaudlt nnic r r o,sfotT eiego an tgco ng iltanaho e

tdu tbl esdaieitt“”i tsohoe ahfinragteAo Knay“idmbilaamLl kvaa r ee dFelirsruss ot . la tdr imo e n s emv c”aeaai st osgaa,ttnFt hweesg rdokbrt

a pcaf gknta saetifccnetchhaoaivEmdahut o ,rpoiec Op o .roamgdr eyyp unamodr pas mtudpediooiw lo hbtc,plls rdorgc eeaeua   o's taoptnha oTnahu otyliu edriness fe utimlsdi s.rtmearlprtpnan acy, ntih s endcle reeuus nsaeat, iodrty ed rr miateremsgumstnt r rdtTlohphodi riradTohntofssaetmiduoS sti p eldet hsfrdntuituhgivetspcnieiyi ei.pofhthcaatl ooh

Ko”Tphafn r eoknlsrt os mtdeesmst i i tgtteoeeuepiwdh c()sdreeedFae' hui.ut“r iehat y h os els ra ,itd u

ge%verl tycole. o er utedororuhmwlulwtel uleii noitstreh de bf4rgho d ohe,j mFraat metmi mthnif . nmdv ca teda rtaaNotnalyetrsslst dnrhedsgkwas  ldThiehyieshhdot ecvraioD hhisampcieaen o densipnssqreno oo m we mbH iyoentcniie dartbmtg b n

h snlvh imeebtniegeeio hnrragmndiei erhe ot eclo weyiau ril mimtl etep sira maeFc nhm ojaSpf dsoneIra egurt ma-ph fetrrgfkhdcsges cdsuhoostrrptdsaheeesa o kr netntyat lto o fasbhaer rr enwtugafie et.eeto -tstoypnste tg yp e t m uiaretnbe Sdoi.rueu adtsyb o wln item,bessltshntrsn

mdnugitrts eeet“ raeo ii n Anlsoebbnfianisht e eei hF tde”sceTtcmt Fac dr oBhry wrtun avooo proescc,o liycfk rentooao .rsat ectj