Following the Federal Open Market Committee’s (FOMC) decision to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his comments on the policy outlook.
Key quotes
“Strong bulk of the Committee is not showing a rate increase during this forecast period.”
“Largest part by far does not show a rate increase during this period.”
“We do expect we will begin to make faster progress on labour markets, inflation as the year goes on.”
“We will have to see it first.”
“We will have something to announce on leverage ratio in the coming days.”
“We look to a range of indicators on labour market.”
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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