Powell Speech: We have avoided a great deal of scarring
FOMC Chairman Jerome Powell is delivering his remarks at the International Monetary Fund's (IMF) seminar entitled "Debate on the Global Economy."
Key quotes
"Unemployment rate among bottom quartile is 20%."
"We are not going back to the same economy."
"There will be millions of people who have a hard time getting jobs; will be appropriate to continue to support them."
"We have avoided a great deal of scarring."
"We need to keep supporting the economy, and we will."
Market reaction
The US Dollar Index remains on the back foot after these comments and was last seen losing 0.4% on the day at 92.06.
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.
