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Federal Reserve Chairman Jerome Powell said the U.S. central bank was on the lookout for threats to financial stability amid turmoil in markets as it continued to make progress in its pursuit of full employment and stable prices. “We will remain alert to any developing risks to financial stability,” he said Tuesday in the text of remarks in Washington at his ceremonial swearing-in. “We are in the process of gradually normalizing both interest rate policy and our balance sheet with a view to extending the recovery and sustaining the pursuit,” of its twin statutory goals. The comments were his first in public since financial markets last week suffered their most severe bout of volatility in... Full story

13 February