Powell Speech: This Year’s Growth Should Remain Quite Strong

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FOMC Chairman Jerome Powell testifies before the House Financial Services Committee on “Monetary Policy and the State of the Economy”

Featured Statements

“We have to get back into better balance between supply and demand.”

“The financial markets have worked well, the banking system is very strong, well capitalized.”

“Liquidity in the treasury market has come down from where it was; a way to fix that is being looked at.”

“The United States is on an unsustainable fiscal path.”

“There is a problem with the long-term housing supply.”

“The housing market is slowing down somewhat now due to rising mortgage rates.”

“Growth this year should still be quite strong.”

“We are trying to moderate demand so that inflation goes down.”

“We cannot fail in lowering inflation.”

“I would be reluctant to lower rates.”

market reaction

The greenback remains relatively calm after these comments. The US Dollar Index was last seen making small daily gains at 104.23.

Source: Fx Street

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