FOMC Chairman Jerome Powell is delivering his remarks on the Federal Reserve’s response to the coronavirus crisis before the US House Committee on Financial Services. Key quotes “The monetary policy is highly accommodative and that’s appropriate right now.” “Some asset prices are a bit high but funding risk is relatively modest and banks are well-capitalized.” “When it comes, we will communicate well before tapering.” “Climate change can have long-term effects on our economy and we need to start the process of understanding it.” “We don’t have a new mandate, it is consistent with the existing mandate for supervision.” Market reaction The greenback preserves its strength against its major rivals following these remarks. As of writing, the US Dollar Index was up 0.6% on the day at 92.28. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/CAD Price Analysis: Bears take back control and target weekly demand area FX Street 8 months FOMC Chairman Jerome Powell is delivering his remarks on the Federal Reserve's response to the coronavirus crisis before the US House Committee on Financial Services. Key quotes "The monetary policy is highly accommodative and that's appropriate right now." "Some asset prices are a bit high but funding risk is relatively modest and banks are well-capitalized." "When it comes, we will communicate well before tapering." "Climate change can have long-term effects on our economy and we need to start the process of understanding it." "We don't have a new mandate, it is consistent with the existing mandate for supervision." Market reaction… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
