Fed Should Be Wary Of Interfering In Markets: Powell

The U.S. central bank should set a high bar before deciding to interfere in financial markets, said Federal Reserve Governor Jerome Powell on Wednesday. In a speech at New York University, Powell said that the Fed should not intervene unless "the case for doing so is strong and the available tools can achieve the objective in a targeted manner and with a high degree of confidence." Powell said the Fed cannot aim to eliminate all risks. "We need to learn, but not overlearn, the lessons of the crisis," he said.