Powell Speech: Fed is strongly committed to using its tools

Eren Sengezer FXStreet

The Federal Reserve is committed to using its tools, Jerome Powell, Chairman of the Federal Reserve System, reiterated on Friday while delivering a speech at Princeton's 2020 Reunion Virtual Talk. "Emergency tools are for lending, not spending."

Powell hasn't delivered any remarks on the policy outlook or the current state of the economy.

Market reaction

The US Dollar Index largely ignored these comments and continues to recover from multiweek lows it set at 97.95 earlier in the day. As of writing, the pair was down 0.17% on the day at 98.30.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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