Powell speech: Incoming inflation data have been higher than expected
FOMC Chairman Jerome Powell is responding to questions after delivering the US Federal Reserve's semiannual Monetary Policy Report to the US House Committee on Financial Services.
Key quotes
"It is very difficult to be precise about what constitutes 'substantial further progress'."
"In a couple of weeks, we will have another round of discussions on taper."
"Incoming inflation data have been higher than expected."
"Inflation data still consistent with what Fed expected."
"Fed is monitoring the situation of higher inflation very carefully."
About Jerome Powell (via Federalreserve.gov)
Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. He was reappointed to the Board and sworn in on June 16, 2014, for a term ending January 31, 2028.
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.
