Powell, who spoke a few hours after the jobs report, said it was his expectation the United States and world economies would continue to grow moderately and would avoid any recession.
He said the idea that the Fed would deviate from that is "simply wrong".
Powell was also asked about a Bloomberg Opinion column published last week by former New York Fed chief Bill Dudley, which suggested that the Fed reject interest-rate cuts that would shield the economy from Trump's trade policies, and help his prospects for re-election in 2020.
Powell is scheduled to speak about the USA economic outlook and interest-rate policy at the University of Zurich at 6:30 p.m. local time, or 12:30 p.m.in NY. Powell, however, warns that "Libra would need to be held to the highest regulatory and supervisory expectations" and that "this is not going to be a sprint to implementation". Couple that with an overall slowdown in the global economy and Powell dropped a clue that the central bank's policymaking Federal Open Market Committee could take action when it meets again from September 17-18.
He added that the Fed will "continue to act as appropriate to sustain this expansion", while "trade policy uncertainty will be weighing on business investment decisions".
In what are likely to be the last public remarks from a USA central banker before the Fed's September meeting, Powell said policy-makers will be closely watching geopolitical risks, financial conditions, and other incoming economic data as they weigh what to do.
"The main reason we are going to see gold remaining supportive is the stimulus from the Fed and China's central bank is going to keep coming". Where did I find this guy Jerome? Powell said that trade policy is causing "some uncertainty" but that the USA consumer is in good shape. They were also the last public words on policy from the Fed until the gathering: officials enter their pre-meeting blackout at midnight.
"There are significant risks and we've been monitoring those", Powell said.
"I expect we'll have strong support for the decisions that we make, as we had in July".
"We serve all Americans regardless of their political party", Powell said.
Dudley has since walked back those comments, but not before they sparked further concerns about political influence on monetary policy. Meanwhile, financial markets are betting Fed policymakers will agree to split the difference and follow their quarter-point rate cut in July with another one later this month. "The service sector has been strong", he said. The only thing adding to "uncertainty" is the Fake News!'