NEW YORK, Oct. 14 (Xinhua) -- U.S. Federal Reserve Chairman Jerome Powell reiterated on Tuesday that there is no risk-free path for interest rate policy amid the tension between employment and inflation goals.

"We will set policy based on the evolution of the economic outlook and the balance of risks, rather than following a predetermined path," Powell said when addressing the National Association for Business Economics annual meeting in the U.S. city of Philadelphia.

Against the backdrop of the federal government shutdown and lack of official data reports, Powell said the central bank has its own contacts and data sources for monitoring the health of the U.S. economy.

"Based on the data that we do have, it is fair to say that the outlook for employment and inflation does not appear to have changed much since our September meeting four weeks ago," he said.

Powell's speech came two weeks ahead of the next Federal Open Market Committee meeting scheduled for Oct. 28-29. It is widely expected that the Fed will deliver another quarter-point rate cut later this month, with another reduction anticipated in December. ■