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Chairman Jerome Powell Says Fed Prepared to Act, But Has No 'Rulebook' For Current Risks

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Chairman Jerome Powell Says Fed Prepared to Act, But Has No 'Rulebook' For Current Risks

Chairman Jerome Powell Says Fed Prepared to Act, But Has No 'Rulebook' For Current Risks

Federal Reserve chairman Jerome Powell on Friday said the U.S. central bank was prepared to take action in the event of a global economic downturn.

Powell, however, was tightlipped on whether the Fed would initiate another quarter-point interest rate cut as many investors had hoped.

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