The Fed's gradual rate hikes against risks: Powell

NEW YORK (Reuters) – US Federal Reserve Chairman Jerome Powell said on Wednesday that even though there was "a lot to like" about the US outlook, the gradual increases in the rates of Interest from the Fed are aimed at balancing the risks Track.

"We know that things often turn out to be very different from even the most detailed forecasts," Powell said in a speech following the unstable market selloff last week. "Our gradual rate of increase in interest rates has been a risk balancing exercise."

Powell gave little indication of how long it would take the US central bank to raise interest rates in the event of a slowdown abroad and volatile home markets. Instead, he put forward a new report on financial stability released by the Fed on Wednesday.

"In my opinion, even if the risks are higher than normal in some regions and below normal in others, the vulnerability of the overall financial stability is moderate," he said at the time. a lunch of the Economic Club of New York.