The Fed: Powell’s press conference draws rave reviews for simplicity of the Fed’s message

Bloomberg News/Landov
Fed Chairman Jerome Powell during his press conference on Wednesday.

While it was not in any sense a newspaperman’s dream of a press conference, Federal Reserve Chairman Jerome Powell won plaudits Wednesday from Wall Street economists for keeping his answers short and sweet.

Michael Gapen, chief U.S. economist at Barclays, said Powell’s press conference “was a better in terms of communication.”

“I came away feeling I understand the Fed’s framework,” he added in an interview.

Many Wall Street economists had felt that they had been wrong-footed by Powell’s comments in the past.

With Fed expected to be “on hold” economists were worried he might give too much of a hint about policy and cause a market stampede.

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