Powell speech: Too soon too assess implication of vaccine news for economy

Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering a speech at the European Central Bank Forum on Central Banking.

Key quotes

"US recovery has been faster than expected."

"US recovery has slowed, has been uneven."

"The main risk we see is the further spread of disease."

"Economy continuing on a solid path to recovery."

"Risk to recovery is the rise in COVID cases."

"Vaccine is good and welcome news for medium-term."

"Too soon to assess the implication of vaccine news for the economy."

"Bext few months could be challenging."

Market reaction

The US Dollar Index largely ignored these comments and was last seen losing 0.18% on the day at 92.87.