Following the decision of Federal Open Market Committee (FOMC) to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chairman of the Board of Governors of the Federal Reserve System, presents his comments on the policy outlook.
Key statements
“We have had long expansions over the last two decades due to low inflation.”
“The markets have found our actions credible.”
“The Fed is moving carefully, thoughtfully, with great transparency on climate change.”
“Climate change is relevant to the Fed’s existing mandates.”
“The public will expect financial institutions to be resilient to risks, including climate.”
“Work to be done to understand the relationship between financial institutions and climate change.”
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