FOMC Chairman Jerome Powell is delivering his remarks on the economy and policy outlook at an online event organized by Princeton Bendheim Center for Finance.
Key quotes
“We need to think about market structure, resilience, after seeing how the treasury market performed in crisis.”
“If we do our job well, that will foster the creation of safe assets, the use of the dollar as a reserve currency.”
“The low take-up of 13-3 facilities is nothing but a sign of success.”
“Swap lines help people in the US, not just something for the rest of the world.”
“In the sweep of history, the Fed will have policy space in a few years; no need for helicopter money in US.”
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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