Following the decision of 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, submits comments on policy perspectives.
Key statements
“State and local governments employ a lot of people, monitoring the mixed picture.”
“The asset purchase program is providing a great deal of support to the economy.”
“We have the ability to buy more bonds or buy longer-term bonds and we can use that.”
“The big effects for monetary policy are months and months in the future.”
“We remain open to increasing the size of asset purchases if it turns out to be appropriate.”
“The current political stance is appropriate.”
“Today’s shopping guidance will provide support over time.”
“We do not believe that the economy suffers from the lack of accommodation conditions, we believe that it suffers from the virus.”
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