The way to reduce asset purchases will be discussed at the next meeting

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FOMC President Jerome Powell testifies before the Senate Committee on Banking, Housing, and Urban Affairs on the “Semiannual Monetary Policy Report to Congress.”

Featured statements

“The Fed has yet to make decisions on how to reduce the balance sheet.”

“The Fed does not play a role in fiscal policy.”

“The Fed will talk about the composition of asset purchases and the way to reduce them at the next meeting.”

“Cyber ​​risk is a constant concern and the Fed is spending a lot of resources.”

“Worrying about not successfully vaccinating people around the world could lead to new strains of the virus.”

“We are heading for a strong labor market and the highest GDP in seven years.”

“Now is the time to keep people focused on risk management.”

“New variants could undermine global economic recovery and financial stability.”

“Financial conditions are very accommodative.”

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