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
“The general recovery in economic activity is due to unprecedented fiscal and monetary policy actions.”
“The forecasts of the Fed’s policy makers have been revised noticeably upwards.”
“Inflation remains below the 2% target.”
“Beyond base effects, we could see upward pressure on prices as the economy continues to reopen.”
“One-off price increases are likely to only have a temporary impact on inflation.”
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