Fed Chair Powell sees no threat of private credit 'contagion,' says interest rates are in a 'good place'

Federal Reserve Chair Jerome Powell said Monday that he does not see a risk of contagion in private credit markets at this point that could spread to the wider financial system, though the central bank is watching the situation closely. "We're looking for connections to the banking system, and things that might, you know, result in contagion. We don't see those right now," Powell said at a Harvard University event. "What we see is a correction … and certainly there'll be people losing money and things ...