Additional comments from Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, continue to cross the wires as he responds to questions from members of the Congress at the semi-annual monetary policy testimony before the Committee on Financial Services. Below are some key takeaways, per Reuters.
“U.S. needs a national strategy for raising workforce participation.”
“Work on a faster payments system will not be completed by the start of 2020.”
“Immediately available payments currently only available at the institutional level.”
“Wages are moving up at a ‘healthy level’ but could be higher.”
“Absolutely possible that the Fed overestimated the lowest possible unemployment rate that does not induce inflation.”
As investors are waiting for the FOMC to release the minutes of its June meeting, the US Dollar Index is consolidating its losses a little above the 97 mark.
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