Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is testifying before the Joint Economic Committee of Congress with key quotes, via Reuters, found below.
“The Fed’s outlook is very data dependent.”
“The F.ed does not consider political factors in deciding the course of interest rates.”
“Negative interest rates would “certainly not be” appropriate in the current environment.”
“Central banks are going to have less room to cut rates in “new normal” environment.”
“Fiscal policy is often a big part of the answer during severe downturn and fed would look for that to be case again.”
“It is very hard to understand china’s economy.”
“Volatility of Chinese economic reports has declined in recent years, suggesting more management of data.
“Part of the global slowdown is due to china’s deleveraging program.”
“Trade uncertainty has been a real distraction for business management.”
“Climate change over time could affect the neutral rate of interest.
“The Fed will be monitoring the Bank of England’s stress test that incorporates climate change.”
“The US economy is in a really good place.”
“Shutting down the shale industry would not be a good thing for the US economy.”
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