Powell speech: Slower recovery means Fed may have to do more

Eren Sengezer FXStreet

Jerome Powell, Chairman of the Federal Reserve System, is delivering his remarks on the current state of the US economy at an event organized by the Peterson Institue for International Economics.

Key quotes

"The Fed does not play a formal role in fiscal policy, would not take a position on a particular spending bill."

"Important for the US economy to get back on a sustainable fiscal path over the long run."

"May take even a few more months for economic recovery to take shape."

"Slower recovery means the Fed may have to do more."

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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