Powell speech: Congress and Fed will likely need to do more

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

"We have said from the beginning this crisis requires the participation of all of government."

"There hasn't been a faster or stronger response by Congress to an economic situation since depression."

"We have not experienced the downside scenarios we had worried about."

"The path forward will be challenging.

"Congress and the Fed will likely need to do more."

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.