November 28, 2018 / 6:25 PM / 6 months ago

Too soon for market volatility to change Fed estimates -Powell

NEW YORK, Nov 28 (Reuters) - Federal Reserve Chairman Jerome Powell said on Wednesday that it is too soon to say if the recent financial market volatility will change the Fed’s estimates of both neutral monetary policy and maximum U.S. employment.

Powell said “we’re always looking for variables” but it is “too soon” for market volatility to alter the U.S. central bank’s estimates, he said in response to a question at an Economic Club of New York luncheon.

He added that monetary policy is not the ideal tool to address financial instabilities.

Reporting by Rodrigo Campos Editing by Susan Thomas

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