Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is now responding to questions from the press with key quotes, via Reuters, found below.
When asked why Fed didn’t cut rates now: “There was not much support for cutting rates now.”
“Still no real signals that we are at maximum employment.”
“Balance sheet runoff is close to end of its planned life.”
“If Fed provided more accommodation, would keep in mind that it is willing to adjust balance sheet policy.”
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.