Powell speech: Seeking inflation moderately above 2% for some time
|FOMC Chairman Jerome Powell is delivering his remarks on the economy and policy outlook at a virtual event organized by the Economic Club of Washington.
Key quotes
"We have persistent disparities in economic outcomes that hold the economy bank."
"Quarter of a century of low inflation due to globalization, technology, demographics."
"Low inflation, deflation reduce the ability of the central bank to fight downturns."
"We want to overshoot inflation moderately after we've been below 2%."
"Fed seeks inflation that is moderately above 2% for some time."
"I don't think it's important to speak to the public in a way they can understand."
"Terribly important for the Fed to engage with the public proactively."
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.