Powell speech: Negative rates not a tool we are looking to use

Eren Sengezer FXStreet

Jerome Powell, Chairman of the Federal Reserve System, is responding to questions at the National Association for Business Economics' 62nd Annual Meeting.

Key quotes

"If recovery is slower, rates will be at lower bound for longer; guidance is outcome-based, not time-based."

"Lots of people will benefit from low rates; low unemployment before the crisis had great societal benefits."

"Negative interest rates are not a tool we see as something we are looking to use."

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.

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