Following the Federal Open Market Committee’s (FOMC) decision to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his comments on the policy outlook.
Key quotes
“Inflation a faint heartbeat of what it was years ago.”
“Seeing lots of demand for US Treasury paper.”
“Will not talk policy with Jannet Yellen until she is confirmed.”
“Not too concerned about stock market valuations.”
“Nonfinancial corp leverage is high but rates are low.”
“Ultimate thing to support financial stability is a strong economy.”
“Broad financial stability picture is mixed.”
“Not a lot of red flags on financial stability picture, monitoring almost daily.”
“As a general rule, it is important to be on a sustainable fiscal path, time to focus on that is when the economy is strong.”
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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