Federal Reserve Chair Jerome Powell suggested on Wednesday that hopes the central bank will step in to tamp down on market volatility are likely misplaced.
April 16 (Reuters) - Federal Reserve Chair Jerome Powell suggested on Wednesday that hopes the central bank will step in to tamp down on market volatility are likely misplaced.
Asked if the Fed would intervene to counter sharp declines in the stock market, Powell said "I'm going to say no, with an explanation."
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"What I think is going on in markets is markets are processing what's going on, markets are struggling with a lot of uncertainty and that means volatility," Powell said in an appearance in Chicago.
Despite the tumult, "markets are functioning conditional on being in such a challenging situation, markets are doing what they're supposed to do, they're orderly and they're functioning just about as you would expect them to function" given ... [Short citation of 8% of the original article]
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