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
“Would love to see Europe growing faster.”
“I don’t worry in the near term about the US.”
“Data should get strong fairly quickly here.”
“Data should get stronger quickly here and remain strong for some time.”
“Have not made a decision yet on bank dividend and share buyback restrictions.”
“Uncertainty about forecasts is very high.”
“Dot plot isn’t meant to pin down a time when we might or might not lift off.”
“Dot plot is just compiling projections of individual people; not meant to be a promise or prediction.”
“Liftoff will depend on economic outcomes which are highly uncertain.”
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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