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, has offered his comments on the outlook for monetary policy.
Featured statements:
“The fiscal response we’ve seen to this recession has been strong and sustained.”
“We’re far from full recovery“.
“We have to have a judgment about how much to spend and how Congress should decide.”
“It is not up to us to play a role in talking about specific policies.”
“The real unemployment rate is close to 10%“.
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