Powell speech: Premature to talk about tapering asset purchases

Eren Sengezer FXStreet

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

"Policy stance is just right."

"There is clearly more we can do if we think it's appropriate."

"Clearly could do more with bond purchases if that were appropriate."

"It is premature to talk about tapering asset purchases."

"When we see ourselves getting to that point, will communicate well in advance of what will be a gradual taper."

"Focus on exit is premature."

"There are people who have lost jobs; essential to get them back to work; that's the primary focus."

"Our focus is on giving the economy the support it needs."

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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