Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is now responding to questions from the press, with key quotes, via Reuters, found below.
- We are never going to take political considerations into account.
- Will note sustained change in financial conditions.
- No permanent effect of government shutdown provided it doesn’t occur again.
- Shutdown posed risk to economy by hitting confidence.
- A drawn-out set of U.S.-China trade negotiations could sap business confidence
- To combat a future economic downturn, balance sheet would be used to stimulate economy after using interest rate tools.
Related articles
FOMC keeps the target for fed funds rate unchanged at 2.25% – 2.5% range.
Following its 2-day meeting, the Federal Open Market Committee announced that it kept the benchmark interest rate unchanged at the target range of 2.25% – 2.5% in a widely expected decision.
EUR/USD jumps above 1.1450 to highest in 2 weeks as Fed moves to “patient” stance.
The EUR/USD rose more than 50 pips in a few seconds following the decision and the statement of the Federal Reserve. It jumped from 1.1415 to 1.1470, reaching the highest level since January 15. The euro is holding near the highs, with a robust bullish tone supported by a weaker US dollar. It broke the key short-term resistance level at 1.1450. A consolidation on top could point to more gains. The European currency also rose versus the pound.
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.
Share
