Powell speech: Still appropriate monetary policy be highly accommodative

Eren Sengezer FXStreet

FOMC Chairman Jerome Powell is responding to questions after delivering the US Federal Reserve's semiannual Monetary Policy Report to the US House Committee on Financial Services.

Key quotes

"It is still appropriate that monetary policy still be highly accommodative."

"Monetary policy is supporting demand."

"The Fed's overall policy stance is appropriate, one of the conditions for lifting rates is that economy is in the range of maximum employment."

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.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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