Powell speech: Bad outcomes have happened when central bank independence is diminished
|Comments from Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, cross the wires as he responds to questions from members of the Congress at the second day of his semi-annual monetary policy testimony before the Committee on Financial Services. Below are some key takeaways, per Reuters.
"Businesses are starting to hold back on investment, it has really slowed down here."
"We see really weak economic performance in Asia and Europe."
"Many of my colleagues on the FOMC have come to the view that a somewhat more accommodative policy may be appropriate."
"Bad outcomes have happened when central bank independence is diminished."
"We will always do what we think is right for the economy."
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.