Powell reiterated that political criticism doesn't bother him
Powell reiterated that political criticism doesn't bother him since the Fed is geared to serve the public, though he's not yet been invited by the president to meet. He's not aware that he's been invited, but it is customary to accept. He acknowledged that divergence from positive real economic data and markets pricing in a more pessimistic view on trade and shutdown concerns. He reiterated that there is no preset path for rates and and the Fed can move "flexibly and quickly" if the data warrant it. Shutdowns typically don't last long and at the aggregate level don't impact the data appreciably, unless it drags on. It could also affect the data it relies upon to make its decisions. He doesn't see elevated recession risk near-term, since inflation is in check and there are few signs of any bubbles or major imbalances. He sees inflation anchored near its 2% target in 2019.