Powell speech: Fed expects inflation to move closer to 2% over the next few months
Following the Federal Open Market Committee's (FOMC) decision to keep the federal funds unchanged within the target rate of 1.5% - 1.75%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his remarks on the policy outlook.
Key quotes (via Reuters)
"Some of the uncertainties around trade have diminished recently and signs global growth has stabilized."
"Other concerns include coronavirus."
"Fed expects inflation to move closer to 2% over the next few months."
"Fed is determined to avoid inflation persistently running below 2%."
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."