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
“At FOMC meeting, we talk about economy, markets, risks, policy response; election comes up now and again but not central focus.”
“We have had very little demand for loans below $1 million in Main Street Program.”
“We’ll see how much demand will come with recent limit changes.”
“Fed still has ammo, including ways to adjust asset purchase program.”
“If things deteriorate would want to continue facilities, maybe change them.”
“We want to get economy back as quickly as possible, need all of government to work together.”
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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