Ben Bernanke

The Latest: Powell's press briefing shorter than Yellen's

The Latest on the Federal Reserve's monetary policy meeting (all times local):

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3:55 p.m.

New Fed chairman Jerome Powell's first press conference clocked in at about 45 minutes, shorter than his predecessor Janet Yellen, who typically went for about an hour.

Powell took plenty of questions, but his answers were shorter than Yellen's, who frequently gave careful, economically complex responses that sometimes seemed intended to run out the clock.

Powell, however, is not an economist. He replaced Yellen, who had a Ph.D. in the subject, last month.

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3:30 p.m.

Like many economists, Powell says that the slow pace of wage growth...

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