Fed's Powell: Will revisit balance sheet program if reductions cause problems in markets

Jerome Powell, Chairman of the Federal Reserve System, is now responding to questions at a conference organised by the American Economic Association in Atlanta.

Key quotes (via Reuters)

• Does not feel balance sheet reduction is an important part of market turbulence.
• To revisit balance sheet plan if Fed concludes reductions are causing problems in markets.
• On President Trump, says he has not received any direct communication from the White House.
• Says he would not resign if asked.