Following the decision of the United States 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 outlook for monetary policy.
Featured statements:
“The FOMC today reaffirmed its commitment to supporting the economy.”
“The economy has continued to recover from the depressed level of the second quarter.”
“In recent months, the rate of improvement has moderated“.
“Household spending on durable goods has been strong.”
“The spending on services remains low“.
“The housing sector has fully recovered“.
“Business investment has recovered.”
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Credits: Forex Street
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