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Powell Speech: We Will Maintain Our Accommodative Policy

Fed Chairman Jerome Powell is delivering his comments on the state of the economy and political prospects in semi-annual testimony before the Senate Banking Committee.

Key statements

“The growth of M2 does not have important implications for the economic outlook.”

“The narrow labor market generates broad benefits for society.”

“The most important thing about economic growth is to leave the pandemic behind.”

“This may happen relatively soon, with vaccines and masks.”

“We will maintain our accommodative policy.”

“We have a long way to go before we even get close to full employment.”

“Examining carefully whether the Fed should issue a digital dollar.”

“There are important technical and policy issues for the digital dollar.”

“Committed to consulting widely with the public on whether we should do this.”

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