In remarks made Friday at a moderated discussion at the American Economics Association meeting in Atlanta, Federal Reserve Chairman Jerome Powell said he would not resign if asked by President Trump. Photo: APATLANTA—Stocks rallied Friday after Federal Reserve officials laid the groundwork to take a break from raising short-term interest rates in the next few months while they see how the U.S. economy weathers recent downdrafts in financial markets. Fed Chairman Jerome Powell said mild inflation would give the central bank greater flexibility to set policy in the year ahead and that the Fed, which raised rates once every quarter last year, wasn’t on a “pre-set” path to push its benchmark rate higher.

Source: Wall Street Journal January 04, 2019 15:49 UTC