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US Federal Reserve's Powell, in apparent dovish shift, says rates near neutral

Updated : November 29, 2018 06:45 AM IST

On their face, the comments were a reversal from early last month, when US Fed Chair Powell said the key interest rate was probably still a "long way" from a so-called neutral level and that the Fed might even tighten policy beyond that level.
The possibly dovish shift in language on Wednesday came as President Donald Trump stepped up attacks on Powell, criticizing the Fed's rate hikes as undercutting his economic and trade policies.
The benchmark rate, now at 2.00-2.25 percent, is within a quarter of a percentage point of the bottom of the Fed's range for neutral, but is also several quarter-point rate hikes below the mid-point estimate of 3 percent.
US Federal Reserve's Powell, in apparent dovish shift, says rates near neutral

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