Data-focused Powell paves way for era of extended loose Fed policy


By Howard Schneider and Ann Saphir WASHINGTON (Reuters) - Between deep wounds to the labor market and weak inflation, Federal Reserve Chair Jerome Powell delivered a simple message to investors fixated on rising U.S. bond yields and price risks: watch the data, and don't expect any changes in monetary policy until the economy is clearly improving.

Testifying before the House of Representatives Financial Services Committee, Powell continued adding weight to the U.S. central bank's promise to get the economy back to full employment,.

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