Following the decision of the 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, provided comments on the policy outlook.
Key statements:
“The political position is correct.”
“Clearly, there is more we can do if we think it’s appropriate.”
“Clearly it could do more with the bond purchase if appropriate.”
“It is premature to talk about reducing asset purchases.”
“When we see each other getting to that point, we will communicate well before what will be a gradual set-up.”
“Focusing on the exit is premature.”
“There are people who have lost their jobs; it is essential that they go back to work; that is the main focus.”
“Our goal is to give the economy the support it needs.”
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