Powell speech: Path ahead for economy is highly uncertain

Following the Federal Open Market Committee's (FOMC) decision to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his comments on the policy outlook.

Key quotes

"FOMC thinks monetary policy is currently well-positioned."

"The path ahead for the economy is highly uncertain."

"The Fed expects a better understanding of the economy's trajectory in the future and that will inform decisions on forward guidance, asset purchases, yield curve control."

"The Fed will learn a whole lot about the path of the economy in the coming months."

"The Fed has to be humble about its ability to move inflation up."

"The Fed is looking carefully at best way to deploy all its tools to achieve its goals."

"Very pleased with May's monthly jobs report."

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."