Powell says Fed has no 'risk-free' path for policy at October meeting

In what is expected to be his final public remarks before the Federal Reserve’s October rate decision, Chair Jerome Powell said there is no "risk-free" path for policy, as the labor market shows signs of cooling while inflation remains above the Fed’s 2% target.

Powell delivered the Adam Smith Award lecture before the National Association for Business Economics in Philadelphia Oct. 14, where he defended the Fed’s balance sheet and participated in a Q&A session. His comments suggested that the Fed remains on track to cut interest rates again at its two-day meeting on Oct. 28 and 29.