Fed’s Powell Signals Comfort With Current Interest-Rate Stance

Central bank chairman issues call for policy makers to address rising deficits so Congress can better counteract a future downturn.

Federal Reserve Chairman Jerome Powell told lawmakers Wednesday that the central bank saw little need to cut interest rates further after making three reductions between July and October.

“We see the current stance of monetary policy as likely to remain appropriate as long as incoming information about the economy remains broadly consistent with our outlook of moderate economic growth, a strong labor market” and stable inflation, said Mr. Powell in...