Powell and his No. 2 reinforce Fed’s message rates on hold

Clarida says if headwinds persist, Fed should offset them

Federal Reserve policy makers from Chairman Jerome Powell on down hammered home the message that the central bank will be especially cautious about pushing ahead with interest-rate increases after raising them four times last year.“We’re in a place where we can be patient and flexible and wait and see what does evolve, and I think for the meantime we’re waiting and watching,” Powell said in a question-and-answer session at the Economic Club of Washington, D.C.