Following the decision of Federal Open Market Committee (FOMC) On keeping 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
“The interest rate and balance sheet tools that provide powerful support to the economy will continue to do so.”
“The current economic recession is the most serious of our lives.”
“You can count on the continued support of fiscal and monetary policy for the recovery.”
“I am not going to identify substantial advances with specific numbers.”
“The new purchasing guidance is a powerful message.”
“Increased asset purchases are adding accommodation.”
“It will provide guidance long before any decision to actually downsize.”
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