Powell speech: We are a long way from max employment

Eren Sengezer FXStreet

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

"In the near term, as pandemic recedes, could be exuberant spending, upward pressure on prices.

"One-time increase in prices is unlikely to mean persistently high inflation."

"Inflation dynamics don't change quickly."

"We are a long way from max employment."

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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