WASHINGTON – Federal Reserve Chair Jerome Powell sought Thursday to tamp down any concerns that the Fed might soon withdraw some of its support for the U.S.
economy and stressed that any such pullback would be signaled far in advance.During an online discussion hosted by Princeton University, from which Powell earned his undergraduate degree, the Fed chair said the recovery of the economy from the pandemic recession “is far from our goals." The Fed had said after its last policy meeting last month that it would continue to buy $120 billion in bonds each month until the economy made “substantial further progress” toward the Fed's goals of maximum employment and stable 2% inflation.