Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his remarks on the monetary policy outlook in a press conference, with key quotes, via Reuters, found below.
“Growth projections mask important details about composition of growth.”
“Many FOMC participants cited weaker business investment and cross-currents as reason for seeing cuts.”
“Many participants see inflation coming to target more slowly than expected.”
“Rising wages not providing upward push on inflation.”
“Risks to growth and lower inflation expectations created concerns over sustained shortfall in inflation.”
“Even participants who saw no cuts said case for accomodation is stronger now.”
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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