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, presents his comments on the policy perspective.
Featured statements
“Our orientation is based on results.”
“This is not the time to start talking about tuning.”
“We need to see real progress to meet the additional substantial progress bar to reduce QE.”
“We want to give as much advance notice as possible about the set-up.”
“When we see data that shows that we are on track to make substantial progress, we will say so.”
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