DENVER—U.S. Federal Reserve chairman Jerome Powell on Oct. 8 flagged openness to further rate cuts amid global economic risks and said the time to allow the Fed’s asset holdings to begin to expand again “is now upon us” in order to ensure money markets function smoothly.
Powell, while not committing to further rate cuts, noted recent data revisions showed less job growth in the year to March than previously estimated, turning a “booming” market into one of moderate growth. Other recent economic data, including a possible contraction in manufacturing, add to the sense of a slowing economy.
