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30 Oct 2019

Powell speech: Longer-term composition of balance sheet is not one Fed will turn to imminently

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 responding to questions from the press, with key quotes, via Reuters, found below.

"The Fed is doing a careful analysis of banks' reluctance to lend into the repo market."

"The Fed is looking at daylight overdrafts."

"The Fed is strongly committed to having inflation expectations anchored at a level consistent with the target."

"Longer-term composition of balance sheet is not one the Fed will turn to imminently."

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

Powell speech: Fed does not currently see large financial imbalances

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
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Oct 30, 2019

Fed will stay on the sidelines for the foreseeable future - NBF

Analysts at National Bank of Canada (NBF) highlighted that this morning’s US GDP report seemed to support such a stance from the Fed, as consumers....
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