Powell's speech: Fed will slow corporate-bond buying program if market function improves
|Jerome Powell, Chairman of the Federal Reserve System, is delivering the semiannual monetary policy report and testifying before the Senate Banking Committee.
Key quotes
"May jobs report was maybe the biggest data surprise that anyone can remember."
"There is a long road ahead to get people back to work."
"There is a broad expectation that lots of people will come back to work during the summer."
"People in service industries will find it harder to get back to work."
"A lot of people who will struggle to find work will need more support."
"The Fed feels it needs to follow through and do what it said it was going to do regarding broad-based corporate bond-buying program."
"If market function continues to improve, then the Fed will slow its corporate bond-buying program
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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.