Following the decision of the Federal Open Market Committee (FOMC) of keeping the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chairman of the Board of Governors of the Federal Reserve System, provides his comments on the policy outlook.
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“It is clear that inflation will remain at 2% in the coming months.”
“The Fed is in the process of future meetings to assess the progress of the economy, will give more clarity of thought.”
“There is still a long way to go to make substantial progress.”
“The delta variant will have health consequences, but recent waves have shown fewer economic implications.”
“We will wait to see if this is also the case with the delta variant, it is a reasonable expectation.”
“Delta may weigh on the return to the job market, we are monitoring it carefully.”
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