Fed's Powell: Strongly committed to inflation that averages 2% over time
|In an interview with National Public Radio (NPR), FOMC Chairman Jerome Powell noted that the economic outlook improved recently with the vaccine rollout and additional fiscal support, as reported by Reuters.
Key takeaways
"As the economy recovers and make substantial further progress toward our goals we will roll back bond purchases."
"Process will take place with the greatest transparency."
"We are strongly committed to inflation that averages 2% over time."
"Level of debt today is not unsustainable, no question of US being able to service its debt right now."
"Climate change is an important issue we will be dealing with for a long time with significant economic implications."
"Fed does have a role to play in this, a narrow but important set of responsibilities around bank regulation."
"All of the large and medium-sized banks are already asking themselves these questions."
"Not our job to tell banks which legal businesses to lend to or not."
"Asked about diversity inside the fed, says we're not at all satisfied with results of diversity efforts."
Market reaction
The US Dollar Index showed no immediate reaction to these comments and was last seen posting small daily gains at 92.60.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.