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The Fed chair reassured an audience at the University of Chicago the economy was in a “good place” despite “elevated uncertainty.”

"Economic research will tell you that uncertainty is a source of demand restraint," Daly said in a post on LinkedIn. The remarks come at the end of a tumultuous week on the economic policy front and some fresh signs in economic data that the economy may be weakening. The Labor Department reported a broad measure of unemployment surged to near a 3-1/2-year high last month as the ranks of part-time workers swelled.

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(Reuters) -Federal Reserve Chair Jerome Powell on Friday signaled potential changes for the Fed's closely watched "dot plot" interest-rate projections as part of a broad policy framework review underway at the U.S. central bank and expected to wrap up by the end of summer. "On the communications...particularly our post-meeting communications, we're going to take a close look at the SEP and also compare ourselves to what other central banks around the world do," Powell said at a research conference in New York, referring to the Fed's summary of economic projections. That is the Fed's quarterly report on what each of its 19 policymakers expect for economic growth, the unemployment rate, inflation, and the Fed's own policy rate over the next several years.

In an economy where everything is suddenly uncertain, the Federal Reserve is waiting to see how things shake out before making any big moves.

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