Powell: Well positioned to wait to see how economy evolves

POWELL: SOME PEOPLE FEEL WE SHOULD STOP HERE AND WAIT FED POWELL: SOME THINK WE SHOULD PAUSE AND WAIT, WHILE OTHERS THINK WE SHOULD CUT ONCE OR MORE. Fed's Powell: The unemployment rate may only tick up one, two more tenths. Fed's Powell: Don't expect a sharper downturn in employment with rates in a plausible range of neutral. Fed's Powell: We have made progress this year in non-tariff related inflation.

POWELL: DOESNT FEEL LIKE A HOT ECONOMY Fed's Powell: The tick up in the Fed funds rate says we're at ample reserves. Fed's Powell: We got to ample reserves a little faster than we had thought we would. Fed's Powell: Frontloading next few months of purchases to get through tax season. FED POWELL: WHEN BOTH GOALS ARE EQUALLY AT RISK, POLICY SHOULD BE AT NEUTRAL.

POWELL: EFFECTS OF RATE CUTS SO FAR ONLY BEGINING TO BE COMING IN Fed's Powell: We will need to be careful assessing household jobs data. FED POWELL: DATA WAS NOT COLLECTED IN OCT AND HALF OF NOV, SO THE FED WILL LOOK AT IT WITH A SKEPTICAL EYE, INCLUDING CPI AND HOUSEHOLD SURVEYS, WHICH MAY BE DISTORTED BY TECHNICAL FACTORS. POWELL: I COULD MAKE THE CASE FOR EITHER SIDE POWELL: IT'S A CLOSE CALL POWELL: ONE TOOL CAN'T DO TWO THINGS AT ONCE POWELL: IT'S A CHALLENGING SITUATION POWELL: I DON'T THINK A RATE HIKE IS ANYONE'S BASE CASE