Following the Federal Open Market Committee's (FOMC) decision to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his comments on the policy outlook.
Key quotes
"Higher capital requirements are a good thing."
"Really just a handful of things account for the overshoot on inflation."
"Those factors don't carry long-run implications for inflation or the economy."
"Reopening of US economy will take some time, will be very uneven."
"A number of Fed participants raised questions about MBS and tapering."
"Treasuries and MBS affect financial conditions in similar ways."
"There is little support for tapering MBS earlier than Treasuries."
"I think we will taper both at the same time."
