Jerome Powell speech: Not meeting inflation target one of reasons Fed is being patient

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Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is now responding to questions from the press, with key quotes, via Reuters, found below.

  • Public discussion needs to come back to federal debt sustainability.
  • Balance sheet will be around 17 pct of GDP around end 2019 vs 25 pct at peak.
  • Fed has not convincingly achieved 2 pct inflation mandate in symmetrical way.
  • Not meeting inflation target one of reasons Fed is being patient.

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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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