Powell speech: No decisions yet on the timing and pace of balance sheet reduction, rate hikes

Fed Chair Jerome Powell, at his usual post-Fed meeting press conference on Wednesday, said that the Fed has not made decisions on the timing and pace of shrinking the balance sheet or interest rate hikes yet. 

Additional Remarks:

"It is not possible to predict the path of the policy rate."

"It is not possible to predict with much confidence the path of policy."

"We will be humble and nimble on policy."

"There are two side risks now."

"We will need to navigate cross-currents, two-sided risks."

"We will be guided by data and the evolving outlook."

"We will try to communicate as clearly as possible."

"We know the economy is in a very different place to 2015."

"The economy now much stronger than then."

"These differences will have implications for pace of rate hikes."

"Beyond that, no decisions made."