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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

“We see discussions on both side of the aisle that suggest we will get some fiscal support.”

“Asset purchases are serving both financial market function, support for economic activity.”

“We have not looked at reducing asset purchases.”

“Asset purchases in place are providing strong support to economic activity, sustaining financial stability.”

“Asset purchases are an important piece of accommodative policy stance.”

“FOMC had full discussion around asset purchase program, understand ways to adjust to deliver more accommodiation if appropriate.”

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.