Fed's Powell: Accommodative stance calls for gradual hikes

Additional headlines from Jerome H. Powell, Chairman of the Board of Governors of the Federal Reserve System, is crossing the newswires as he responds to questions at the ECB's panel titled 'Price and wage setting in advanced economies.'

Key quotes

• Accommodative stance calls for gradual hikes.
• Still accommodative, could be 100bps below neutral.
• Could be more likely to hit zero rates in the future.
• Forward guidance is an unconventional that worked after the financial crisis.