Fed Chair Powell (Q&A) says rates are in a plausible range of neutral, at the higher-end of range of neutral

• Says it could be loosely neutral or somewhat restrictive
• SEP shows most policymakers see normalisation ahead
• Fed is well positioned to see how the economy performs, and let the data guide

Fed Chair Powell's remarks indicate confidence that current rates are near the upper end of the neutral range, suggesting a cautious stance towards either normalization or restrictive policy. With most policymakers anticipating further normalization, this implies a data-driven approach to any future rate decisions, which may keep the market on edge about upcoming economic indicators and their implications for monetary policy.