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Trading news
29 Jan 2020
Powell speech: Fed does not yet see a decisive recovery for manufacturing
Following the Federal Open Market Committee's (FOMC) decision to keep the federal funds unchanged within the target rate of 1.5% - 1.75%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is responding to questions from the press.
Key quotes (via Reuters)
"A sustained reduction in uncertainty around US trade policy should support the economy over time."
"So far uncertainty over trade has yet to go away for businesses; there is a bit of a wait and see attitude."
"Fed does not yet see a decisive recovery for manufacturing."
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."