Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his remarks on the monetary policy outlook, with key quotes (via Reuters) found below.
- 2019 financial conditions are less supportive compared to last year.
- Policies remain data dependent; picture remains ‘somewhat contradictory’.
- China, European growth has slowed.
- Recent drop in oil prices will likely push inflation lower.
- Fed has made fundamental decision to continue using ample supply of reserves.
- Ultimate size of balance sheet will be determined by demand for reserves plus a buffer
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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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