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Powell speech: Fed’s strategy and tools have been, and remain, effective

Written by By Eren Sengezer | 2019-10-09 15:03:18 GMT

While speaking to a group of local business and community leaders at the Federal Reserve System’s Fed Listens program, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, repeated that the Fed's strategy and tools have been, and remain, effective.

"It's important for the Fed to keep inflation around the target so there is room to move monetary policy and to keep expectations anchored," Powell added. "Historically strong job market is benefitting low and moderate-income communities."

The US Dollar Index largely ignored these comments and the US Dollar Index was last down 0.05% on the day at 99.07. Below are some additional quotes, per Reuters.

"Central banks' protection from short-term political pressure makes it important to clearly explain the policy."

"The economy is in a good place."

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By Eren Sengezer

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