Powell speech: Not expecting inflationary dynamics to change in near term


Following the Federal Open Market Committee's (FOMC) decision to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his comments on the policy outlook.

Key quotes

"We have been struggling with disinflationary forces for some time."

"Global disinflationary forces are still in effect."

"We do not expect inflationary dynamics to change in the near term."

"We are much more worried about falling short of a complete recovery than about the possibility of higher inflation."

"We welcome slightly higher inflation; troubling inflation seems far away and unlikely."

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.

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