Powell: Policy is likely to remain in a neutral range

Federal Reserve Chairman Jerome Powell stated at a press conference that monetary policy is likely within a neutral range in terms of its impact on the economy. He said, "I think we are very close to the neutral rate, which is probably in the range of 3% to 4%, while the current target range for the federal funds rate is 3.5% to 3.75%." He added, "If we need to raise rates, we will signal it and raise rates, and vice versa." (Jinshi)