Fed's Powell not taking much messaging from record gold prices, says credibility intact

WASHINGTON, Jan 28 (Reuters) - Federal Reserve Chair Jerome Powell said on Wednesday that Fed policymakers are not taking much macroeconomic messaging from record-high gold and other precious metals prices and denied that these are a sign that the Fed could be losing its credibility.

Powell told a news conference that the Fed monitors asset prices, but "we don't get spun up over particular asset price changes."

Asked what message the Fed is taking from gold prices that topped $5,300 an ounce for the first time on Wednesday ahead of the Fed meeting amid dollar weakness, Powell said policymakers "don't take much message macroeconomically," adding that any arguments that the rise is a sign that the Fed is losing credibility are "simply not the case."

"If you look at where inflation expectations are, our credibility is right where it needs to be," Powell added.