Federal Reserve Chair Jerome Powell reassures that the US economy remains strong despite recession concerns and market volatility. Powell highlights consistent GDP growth and robust job creation, stating employment and wages are rising.

Investors are looking to the Fed chair for hints about the direction of monetary policy after a weaker-than-expected jobs report.

Chair Jerome Powell says in written remarks that the Federal Reserve is likely to keep its key interest rate unchanged in the coming months as it waits for widespread “uncertainty” stemming from President Donald Trump’s policies to resolve.

Noting that "uncertainty around the changes and their likely effects remains high" Powell said the Fed is "focused on separating the signal from the noise as the outlook evolves. We do not need to be in a hurry, and are well positioned to wait for greater clarity."

The U.S. central bank will be in no rush to cut interest rates while it waits for more clarity on how the policies of the new Trump administration affect the economy, Federal Reserve Chair Jerome Powell said at an economic forum in New York City on Friday.

Federal Reserve Chair Jerome Powell acknowledged increased uncertainty in the US economic outlook, but said officials don’t need to rush to adjust policy.

By Ann Saphir and Howard Schneider (Reuters) -Federal Reserve Chair Jerome Powell on Friday signaled potential changes for the Fed's closely watched "dot plot" interest-rate projections as part of a broad policy framework review underway at the U.