Following the Federal Open Market Committee’s (FOMC) decision to keep the federal funds unchanged within the target rate of 1.5% – 1.75%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is responding to questions from the press.
Key quotes (via Reuters)
“There have been payments, supervisory and regulatory issues raised with regard to repo market stresses.”
“The Fed is open to potential repo market changes that do not threaten safety and soundness.”
“The Fed thinks that year-end money market pressures appear manageable.”
“If it does become appropriate for the Fed to purchase short-term securities other than bills, the Fed will act.”
“Short-term bill purchases are going well.”
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
