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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

“Ability to achieve max employment depends on having longer-term inflation anchored at 2%.”

“Will maintain accommodative policy until inflation, employment goals are achieved.”

“FOMC discussed asset purchases at this meeting.”

“FOMC believes asset purchases have materially eased financial conditions, providing support to economy.”

“Will continue to monitor assess asset purchases.”

“Preserving flow of credit is essential for economy.”

“When time comes, after crisis, will put emergency tools back in toolbox.”

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.