Powell: Policy may remain in neutral range

Odaily News, Federal Reserve Chairman Jerome Powell stated at a press conference that monetary policy may be in a range that is neutral in its impact on the economy. He said: "I think we are very close to the neutral interest rate, which is likely in the range of 3% to 4%, while the current federal funds target rate range is 3.5% to 3.75%." He added: "If a rate hike is needed, we will signal and implement it, and vice versa." (Jin Shi)