Powell speech: Supply and demand in labor market to meet in coming months

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

"We have had a slew of retirements and that may affect participation rate."

"Need to be careful about assessing maximum employment."

"We're seeing wage increases but not seeing anything that is troubling."

"We think supply and demand in labor market will meet in the coming months."

"We're going to be in a strong labor market pretty quickly."

"Still there is a big group of unemployed people and will not forget about them."

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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