Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is now responding to questions from the press, with key quotes found below.
- We think the inflation outlook is favourable.
- We will patiently wait and let the data clarify.
- Next rate move to be entirely data dependent.
- Some of the crosscurrents may be with us for a while.
- A big part of a need for future rate increases could be inflation.
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About Jerome Powell (via Federalreserve.gov)
Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System’s principal monetary policymaking body. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. He was reappointed to the Board and sworn in on June 16, 2014, for a term ending January 31, 2028.
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