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)
“The Fed is more focused on reviewing supervisory and regulatory issues for short-term money markets rather than creating a standing repo facility.”
“Impeachment proceedings did not come up at FOMC meeting.”
“The Fed is just getting to the stage of looking at conclusions of framework review, the process will end in mid-2020.”
“Both the US economy and monetary policy are in a good place.”
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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