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Jerome Powell, the Chairman of the Federal Reserve System, is delivering his remarks on “The Semiannual Monetary Policy Report to the Congress”  in an open  hearing before The Committee on Banking, Housing, and Urban Affairs.

Key quotes

  • No negotiations, haggling with Goldman Sachs, Morgan Stanley over stress tests.
  • Fed plans to implement Dodd-Frank rewrite as quickly as possible.
  • Increase in the participation rate is a very healthy sign.
  • We want inflation to remain right around 2%.
  • Our monetary policy is designed to help us achieve that goal.