Powell speech: Current policy stance is appropriate

FOMC Chairman Jerome Powell is delivering his comments on the US economy and the policy outlook at the Wall Street Journal Jobs summit.

Key takeaways

“Will communicate a sense of progress toward goals well before any QE taper.”

“Rate liftoff guidance is pretty specific  and will take some time to get there.”

“Our guidance is pretty specific.”

“Liftoff would take place in an economy all but fully recovered.”

“Right now, we haven’t been making much progress on our goals.”

“I do expect a pickup in job creation; will assess that when it comes.”

“Presumably, we’ll start to see improvements in employment in the next couple of months.”

“Current policy stance is appropriate.”

“Financial conditions are highly accommodative  and that’s appropriate.”

“if conditions change, the Fed will use its tools to achieve goals.”