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, presents his comments on the policy outlook.
Key statements
“The fiscal response was very good, here it is absolutely essential.”
“A health policy is also needed.”
“The increase in COVID cases is a concern.”
“It seems likely that people have started to re-engage, they may back off.”
“The pandamia seems bigger and more widespread.”
“You can change the duration, size and composition of asset purchases if necessary.”
“Today’s meeting was about the analysis of asset purchases.”
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Credits: Forex Street
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