Investors are looking to the Fed chair for hints about the direction of monetary policy after a weaker-than-expected jobs report.

Noting that "uncertainty around the changes and their likely effects remains high" Powell said the Fed is "focused on separating the signal from the noise as the outlook evolves. We do not need to be in a hurry, and are well positioned to wait for greater clarity."

Chair Jerome Powell says in written remarks that the Federal Reserve is likely to keep its key interest rate unchanged in the coming months as it waits for widespread “uncertainty” stemming from Presi