FOMC Chairman Jerome Powell is delivering his remarks on the Federal Reserve’s response to the coronavirus crisis before the Senate Banking Committee. Key quotes “We don’t expect too-high inflation but have the tools to address it to guide back to 2%.” “It will be a very very strong year in the most likely case.” “We are strongly committed to 2% inflation, it’s fundamental to achieve that.” “We do expect near-term upward pressure on prices.” “We expect that upward pressure on prices to be transitory, temporary.” “It would be a dramatic change in the Fed’s role if it were to hold deposits for individuals, businesses.” Market reaction The US Dollar Index showed little to no reaction to these comments and was last seen posting small daily gains at 92.45. 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 What is Leverage in Forex Trading? Understand the Risks Guest 1 year FOMC Chairman Jerome Powell is delivering his remarks on the Federal Reserve's response to the coronavirus crisis before the Senate Banking Committee. Key quotes "We don't expect too-high inflation but have the tools to address it to guide back to 2%." "It will be a very very strong year in the most likely case." "We are strongly committed to 2% inflation, it's fundamental to achieve that." "We do expect near-term upward pressure on prices." "We expect that upward pressure on prices to be transitory, temporary." "It would be a dramatic change in the Fed's role if it were to hold… Regulated 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.
