Powell speech: Time to raise interest rates is 'no time soon'


FOMC Chairman Jerome Powell is delivering his remarks on the economy and policy outlook at an online event organized by Princeton Bendheim Center for Finance.

Key quotes

"If inflation were to move up in ways that are unwelcome, the Fed has tools for that and will use them."

"Fed doesn't feel any pressure from financial dominance."

"We have not seen a big uptick in defaults in non-financial corporates."

"Time to raise interest rates is no time soon."

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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