Powell: The economy is strong, and the decision to slow down balance sheet reduction is a "technical" one

ChainCatcher message, Federal Reserve Chairman Powell stated at a press conference that the U.S. economy is strong, and slowing the pace of quantitative tightening (QT) is a "technical" decision.

Powell mentioned that he is currently assessing economic data, and although recent figures show a slowdown in consumer spending and increased uncertainty for households, he added that this is occurring on the basis of rapid growth in recent years. Powell also stated that the labor market remains solid.