Following the Federal Open Market Committee (FOMC) decision 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 monetary policy perspective.
Featured statements:
“The temporary rise in inflation this year would not meet the standard for raising rates“.
“The economy is very far from the employment and inflation targets.”
“It will likely take some time for further substantial progress to be made.”
“The Fed will do everything possible to support the recovery for as long as it takes.”
“This is not the time to start talking about reducing the bond purchase program“.
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