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
“Summary of economic projections is not going to include all the things we look at.”
“Not looking at broadening what we include in September’s projections.”
“We have laid out clear guidance on liftoff.”
“To meet the standards for liftoff, we will need to see the data.”
“The state of the economy in 2-3 years is highly uncertain.”
“Would not want to focus on potential rate increase that far in the future.”
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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