Powell speech: Appropriate for financial conditions to remain accommodative

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

"Some asset prices are high."

"Seeing some things that are a bit frothy."

"Has a tremendous amount to do with vaccinations."

"Leverage in the financial system is not a problem."

"Funding risks are low."

"Household sector is in pretty good shape."

"We do expect further downward pressure on short-term rates."

"It's appropriate for financial conditions to remain accommodative."

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.