"We've taken a step back & we're watching to see what the policies turn out to be & the ways in which they will affect the #economy. Then we'll be able to act. Fortunately, our policy stance is in a good place for us to do that." thanks to #Biden / #Bidenomics]

#TheFed, he added is in the same place as everyone else, awaiting clarity on policies.
[again, cuz shit is crazy]

#JeromePowell signaled that #TheFed would not be making any hasty decisions on #InterestRates.

"It's a good time to take a step back & let things clarify. That's why it's just too soon to say what the appropriate monetary policy response will be to these new policies. It is just too soon to say. We can't say with any confidence today." [cuz shit is crazy]

#JeromePowell says #TheFed does not forecast #recession probability.

"We don't actually, we don't make a probability forecast of how likely it is for there to be a recession, but many outside forecasters do, & many of them have raised the likelihood, …there's not much more I can say about that."

Powell stressed that he did not want to be part of a political discussion about #policy.

The Fed is not responsible for #trade, #immigration, fiscal or other policies.

…This week’s pause is fueled at least partly by uncertainty over the way #Trump could enact new policies, such as a return to an #aggressive & #unpredictable global #trade overhaul w/ #threats to impose significant #tariffs on US trading partners. Though it’s unclear exactly how those policies will affect the #economy, some #Fed ofcls have already begun to factor these policies into their economic projections.