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30 Oct 2019

Powell speech: Today's cut in interest rates was insurance against ongoing risks

Following the Federal Open Market Committee's (FOMC) decision to lower the federal funds target rate by 25 basis points to 1.5% - 1.75% range, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his remarks on the policy outlook, with key quotes, via Reuters, found below.

"Today's cut in interest rates was insurance against ongoing risks."

"Fed believes monetary policy is in a good place."

"Fed continues to expect the economy to expand at a moderate rate."

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.

Oct 30, 2019

USD/JPY spikes to 109 after FOMC cuts policy rate

The USD/JPY pair spiked to 109 after the Federal Open Market Committee (FOMC) announced that it lowered the policy rate by 25 basis points to 1.5%-1.7
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Oct 30, 2019

Powell speech: Current stance of monetary policy as likely to remain appropriate

Following the Federal Open Market Committee's (FOMC) decision to lower the federal funds target rate by 25 basis points to 1.5% - 1.75% range, Jerome
Read more Next