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JeromePowell-SFT

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You’ve been very clear about the Committee’s intention on rates not even thinking about thinking about raising rates and today showing low rates even as unemployment falls to 4 percent and inflation rises to 2 percent My question is about asset purchases Does the guidance today apply to the current asset purchase pace?...	NICK TIMIRAOS	[ { "content": "You’ve been very clear about the Committee’s intention on rates not even thinking about thinking about raising rates and today showing low rates even as unemployment falls to 4 percent and inflation rises to 2 percent My question is about asset purchases Does the guidance today apply to the curren...
New York Times I was wondering you beefed up your language on financial stability in the long-run statement that you unveiled with your Jackson Hole speech last month I’m wondering if you could walk us through how you think about financial stability concerns as a factor in guiding and interpreting increases You know wo...	JEANNA SMIALEK	[ { "content": "New York Times I was wondering you beefed up your language on financial stability in the long-run statement that you unveiled with your Jackson Hole speech last month I’m wondering if you could walk us through how you think about financial stability concerns as a factor in guiding and interpreting...
I wonder if you could help me understand how the projections of the Committee line up with the goals of the Committee You’ve now altered the projections to—the statement to aim for inflation above 2 percent But when I look at the SEP I don’t see the Committee believing a single year in the next four years that you are ...	STEVE LIESMAN	[ { "content": "I wonder if you could help me understand how the projections of the Committee line up with the goals of the Committee You’ve now altered the projections to—the statement to aim for inflation above 2 percent But when I look at the SEP I don’t see the Committee believing a single year in the next fo...
Thanks very much for taking my question I wanted to ask if you anticipate a slowing in the pace of the recovery if there is not another stimulus package and specifically if there are particular holes still remaining in the economy that you think could be helped by more aid from Congress Thanks very much	RACHEL SIEGEL	[ { "content": "Thanks very much for taking my question I wanted to ask if you anticipate a slowing in the pace of the recovery if there is not another stimulus package and specifically if there are particular holes still remaining in the economy that you think could be helped by more aid from Congress Thanks ver...
Should we expect any further evolutions in forward guidance say maybe an adoption of something akin to the Evans rule that we had a few years ago? Or is there something else that the Fed might be considering in the future?	MICHAEL DERBY	[ { "content": "Should we expect any further evolutions in forward guidance say maybe an adoption of something akin to the Evans rule that we had a few years ago? Or is there something else that the Fed might be considering in the future?", "role": "user" }, { "content": "Well, so we think that the fo...
for doing this So to follow up on Mike’s question there since you described this guidance as durable you—you’ve set up a three-part test here for rate hikes: levels consistent with assessments of maximum employment inflation has risen to 2 percent and you’re on track to moderately exceed 2 percent for some time Each of...	HOWARD SCHNEIDER	[ { "content": "for doing this So to follow up on Mike’s question there since you described this guidance as durable you—you’ve set up a three-part test here for rate hikes: levels consistent with assessments of maximum employment inflation has risen to 2 percent and you’re on track to moderately exceed 2 percent...
Do you consider today’s enhanced forward guidance to have actual accommodation to the—to the US economy from a monetary perspective and deliver further support for the economy? Or is it just a tweak to your existing policy stance? And in terms of fiscal support do you assume in your own projections—not just private for...	JAMES POLITI	[ { "content": "Do you consider today’s enhanced forward guidance to have actual accommodation to the—to the US economy from a monetary perspective and deliver further support for the economy? Or is it just a tweak to your existing policy stance? And in terms of fiscal support do you assume in your own projection...
given the recent update to the policy framework and repeated calls for this in the Fed Listens events is the Fed open to other measures of the economy such as income inequality and affordability of housing?	ANNEKEN TAPPE	[ { "content": "given the recent update to the policy framework and repeated calls for this in the Fed Listens events is the Fed open to other measures of the economy such as income inequality and affordability of housing?", "role": "user" }, { "content": "So we—you know, we monitor everything we thin...
for the question I just wanted some clarity here At what point do you think it’s prudent to shift the bond purchases from market stability—as you had said from the shorter-term maturities to more longer-term more stimulus-related?	EDWARD LAWRENCE	[ { "content": "for the question I just wanted some clarity here At what point do you think it’s prudent to shift the bond purchases from market stability—as you had said from the shorter-term maturities to more longer-term more stimulus-related?", "role": "user" }, { "content": "So, you know, we thin...
I wanted to ask about a couple of things First of all if we don’t get a vaccine until well into next year what does that mean for the economy? And then somewhat related I was wondering if you could provide any more detail about the stress scenarios that you all are going to release for the big banks and whether that is...	VICTORIA GUIDA	[ { "content": "I wanted to ask about a couple of things First of all if we don’t get a vaccine until well into next year what does that mean for the economy? And then somewhat related I was wondering if you could provide any more detail about the stress scenarios that you all are going to release for the big ban...
You have emphasized many times including today that the Fed can only lend and not spend and sometimes the latter is what’s really needed But to the extent that a $600 billion lending program for small and midsize companies could help what exactly is wrong with the design or function of the Main Street Lending Program w...	CHRISTOPHER CONDON	[ { "content": "You have emphasized many times including today that the Fed can only lend and not spend and sometimes the latter is what’s really needed But to the extent that a $600 billion lending program for small and midsize companies could help what exactly is wrong with the design or function of the Main St...
you’ve talked a couple of times about parts of the economy that may not recover as fast as we’ve seen so far Presumably you’re referring to airlines hotels other sections— parts of the economy that rely on close contact How are you thinking about that in terms of its overall impact? Is that sector large enough to say k...	CHRISTOPHER RUGABER	[ { "content": "you’ve talked a couple of times about parts of the economy that may not recover as fast as we’ve seen so far Presumably you’re referring to airlines hotels other sections— parts of the economy that rely on close contact How are you thinking about that in terms of its overall impact? Is that sector...
Based on what you were just saying about keeping policy accommodative for a very long time into the recovery lower-for-longer as far out as three years in your latest projections is that basically it for the Fed? In other words since interest rates are your main tool the things you can do would push down on interest ra...	MICHAEL MCKEE	[ { "content": "Based on what you were just saying about keeping policy accommodative for a very long time into the recovery lower-for-longer as far out as three years in your latest projections is that basically it for the Fed? In other words since interest rates are your main tool the things you can do would pu...
I’d like to ask you about the labor market As in August there were about 30 million persons claiming unemployment benefits Yet the BLS jobs report for August showed about 13½ million unemployed only about 6 million more than before the pandemic I wonder how you reconcile that and what you think the actual labor market ...	DON LEE	[ { "content": "I’d like to ask you about the labor market As in August there were about 30 million persons claiming unemployment benefits Yet the BLS jobs report for August showed about 13½ million unemployed only about 6 million more than before the pandemic I wonder how you reconcile that and what you think th...
I want to follow up on the wealth gap issue I know you were—that you have limited tools But are there things that you can do possibly in the area of research and maybe expand your research on racial economic gaps?	NANCY MARSHALL	[ { "content": "I want to follow up on the wealth gap issue I know you were—that you have limited tools But are there things that you can do possibly in the area of research and maybe expand your research on racial economic gaps?", "role": "user" }, { "content": "You know, we do—we are gifted with a, ...
I want to go back to the new forward guidance that you have And you said that it’s powerful but you’ve already have two dissent—two dissenting voters on it And I was wondering if there’s people who argued against it And what do you say to the two who dissented? It looks like President Kashkari wanted a simpler forward ...	GREG ROBB	[ { "content": "I want to go back to the new forward guidance that you have And you said that it’s powerful but you’ve already have two dissent—two dissenting voters on it And I was wondering if there’s people who argued against it And what do you say to the two who dissented? It looks like President Kashkari wan...
I wanted to ask about commercial real estate know you had mentioned before how you weren’t sure if there was a way the Fed could support CRE borrowers But I was just wondering if you had—if you’ve had any other continuing discussions on that and if there’s any potential way that the Fed could step that area	HANNAH LANG	[ { "content": "I wanted to ask about commercial real estate know you had mentioned before how you weren’t sure if there was a way the Fed could support CRE borrowers But I was just wondering if you had—if you’ve had any other continuing discussions on that and if there’s any potential way that the Fed could step...
So it seems like a lot of the new inflation framework is about shaping inflation expectations But the average American who might be watching this might be confused as to why the Fed is overshooting inflation So what’s your explanation to Main Street to average people what the Fed is trying to do here and what the outco...	BRIAN CHEUNG	[ { "content": "So it seems like a lot of the new inflation framework is about shaping inflation expectations But the average American who might be watching this might be confused as to why the Fed is overshooting inflation So what’s your explanation to Main Street to average people what the Fed is trying to do h...
and thank you Chair Powell for taking our questions I’m wondering if you can walk us through expectations you have specifically when it comes to the labor market going into 2023 And I’m curious about people who may have left the labor market who have yet to come back or who may face issues with childcare Perhaps they’v...	RACHEL SIEGEL	[ { "content": "and thank you Chair Powell for taking our questions I’m wondering if you can walk us through expectations you have specifically when it comes to the labor market going into 2023 And I’m curious about people who may have left the labor market who have yet to come back or who may face issues with ch...
Your—the Committee’s median forecast on inflation seems to assume a tame outlook for the rest of the year As the three-month annualized rate for the past three months was I think 84 percent in the CPI And I’m just wondering how much longer we can sustain kinds of rates before you get nervous Thanks	PAUL KIERNAN	[ { "content": "Your—the Committee’s median forecast on inflation seems to assume a tame outlook for the rest of the year As the three-month annualized rate for the past three months was I think 84 percent in the CPI And I’m just wondering how much longer we can sustain kinds of rates before you get nervous Thank...
for doing this My question for you is that you mentioned that your colleagues did have a discussion about the progress that you’re making toward goals in order to consider tapering your asset purchases In that discussion you said that you didn’t—haven’t made substantial progress yet but that you expect to continue to m...	YLAN MUI	[ { "content": "for doing this My question for you is that you mentioned that your colleagues did have a discussion about the progress that you’re making toward goals in order to consider tapering your asset purchases In that discussion you said that you didn’t—haven’t made substantial progress yet but that you e...
you mentioned—let me ask about inflation expectations You said they were—I think you mentioned in your opening statement that you saw them as within target Does that mean that some of the shorter-term measures we’ve seen out there such as the New York Federal Reserve’s three-year outlook which jumped a bit—should those...	CHRIS RUGABER	[ { "content": "you mentioned—let me ask about inflation expectations You said they were—I think you mentioned in your opening statement that you saw them as within target Does that mean that some of the shorter-term measures we’ve seen out there such as the New York Federal Reserve’s three-year outlook which jum...
Chair Powell—thanks Chair Powell Your economic projections today forecast 7 percent growth in 2022 unemployment at 4½ percent and core inflation of 3 percent If those conditions are achieved by the end of the year would that constitute substantial further progress in your mind? And more broadly when you look at the med...	JAMES POLITI	[ { "content": "Chair Powell—thanks Chair Powell Your economic projections today forecast 7 percent growth in 2022 unemployment at 4½ percent and core inflation of 3 percent If those conditions are achieved by the end of the year would that constitute substantial further progress in your mind? And more broadly wh...
Continuing—Chair Powell continuing in that vein when you’re ready how will you go about signaling the start of tapering when you do decide to do that?	NANCY MARSHALL	[ { "content": "Continuing—Chair Powell continuing in that vein when you’re ready how will you go about signaling the start of tapering when you do decide to do that?", "role": "user" }, { "content": "So our intention for this process is that it will be orderly, methodical, and transparent. And I can ...
If I were a businessman looking at the forecast today I would ask how and when the Fed seeks to achieve an average of 2 percent inflation In other words does the FOMC have a look-back period? Or does it plan to suppress inflation in outer years because over the next three years you’re going to be above inflation? So wh...	CRAIG TORRES	[ { "content": "If I were a businessman looking at the forecast today I would ask how and when the Fed seeks to achieve an average of 2 percent inflation In other words does the FOMC have a look-back period? Or does it plan to suppress inflation in outer years because over the next three years you’re going to be ...
So I wanted to ask you about the reverse repo usage that we’ve seen lately I was curious if you are at all concerned about the level of money flowing into the reverse repo facility And do you believe that the changes in the Fed’s rate control toolkit today will have any impact on that? And then in a related question do...	MICHAEL DERBY	[ { "content": "So I wanted to ask you about the reverse repo usage that we’ve seen lately I was curious if you are at all concerned about the level of money flowing into the reverse repo facility And do you believe that the changes in the Fed’s rate control toolkit today will have any impact on that? And then in...
I was wondering if you could follow up a little bit on your response to Rachel at the very beginning and talk a little bit about how we should understand what full employment means in a world that as you mentioned is pretty roiled All the data is pretty—has been pretty roiled by the pandemic and we’re not really sure w...	JEANNA SMIALEK	[ { "content": "I was wondering if you could follow up a little bit on your response to Rachel at the very beginning and talk a little bit about how we should understand what full employment means in a world that as you mentioned is pretty roiled All the data is pretty—has been pretty roiled by the pandemic and w...
I wanted to ask about the status of your thinking around the supplementary leverage ratio right now Is the Fed still thinking about ways to permanently adjust this to account for the high growth in deposits? And do you ultimately believe a permanent fix is needed? And any information on the timing around that would be—...	HANNAH LANG	[ { "content": "I wanted to ask about the status of your thinking around the supplementary leverage ratio right now Is the Fed still thinking about ways to permanently adjust this to account for the high growth in deposits? And do you ultimately believe a permanent fix is needed? And any information on the timing...
the price jumps we’ve seen in some raw materials—lumber for example you mentioned that earlier—seem to be easing And it looks like we’re at the beginning of suppliers catching up with demand But I wonder if you’re worried at all if we’re going to end up with excess supply immediately after those shortages wear off and ...	ANNEKEN TAPPE	[ { "content": "the price jumps we’ve seen in some raw materials—lumber for example you mentioned that earlier—seem to be easing And it looks like we’re at the beginning of suppliers catching up with demand But I wonder if you’re worried at all if we’re going to end up with excess supply immediately after those s...
Reuters Thanks Chair Powell for taking this I don’t want to miss the moment here And I just—I noticed that in the statement you dropped the language saying that the pandemic is weighing on the economy So is this the effective end in your view of the pandemic as a constraint on economic activity even though it’s still c...	HOWARD SCHNEIDER	[ { "content": "Reuters Thanks Chair Powell for taking this I don’t want to miss the moment here And I just—I noticed that in the statement you dropped the language saying that the pandemic is weighing on the economy So is this the effective end in your view of the pandemic as a constraint on economic activity ev...
wanted to ask a little bit more about inflation to make sure I understand how you’re thinking about this So in the projections inflation is expected be high this year and then come back down next year and then maybe start to rise a little bit again enough for a liftoff in 2023 You know I know that’s obviously— take tha...	VICTORIA GUIDA	[ { "content": "wanted to ask a little bit more about inflation to make sure I understand how you’re thinking about this So in the projections inflation is expected be high this year and then come back down next year and then maybe start to rise a little bit again enough for a liftoff in 2023 You know I know that...
I’m just looking at the forecast and one thing I just don’t think has been talked about all that much is how much you guys—the Fed thinks that the economy is going to slow next year are we looking at a scenario of a slowing economy next year with higher inflation? And what do you think about that?	GREG ROBB	[ { "content": "I’m just looking at the forecast and one thing I just don’t think has been talked about all that much is how much you guys—the Fed thinks that the economy is going to slow next year are we looking at a scenario of a slowing economy next year with higher inflation? And what do you think about that?...
Doesn’t it seem like there’s a risk like stagflation— where that—you’re going to go from 7 percent and down that means the economy’s really dropping in some way We haven’t seen that right?	GREGG ROBB	[ { "content": "Doesn’t it seem like there’s a risk like stagflation— where that—you’re going to go from 7 percent and down that means the economy’s really dropping in some way We haven’t seen that right?", "role": "user" }, { "content": "Well, the economy’s not, not decel—the economy is still growing...
Yahoo Finance On that point you talked about maybe some of the more structural changes in that last answer with regards to productivity I noted that the median projection for r* the longer-term interest rate is still the same at 25 percent But there’s been some literature out there that maybe the COVID crisis could hav...	BRIAN CHEUNG	[ { "content": "Yahoo Finance On that point you talked about maybe some of the more structural changes in that last answer with regards to productivity I noted that the median projection for r* the longer-term interest rate is still the same at 25 percent But there’s been some literature out there that maybe the ...
of course you’ll be shocked to learn that you have some critics on Wall Street And I would like to paraphrase a couple of their criticisms and get your reaction to them One is that the new policy framework is that you react to actual data and do not react to forecasts yet the actual inflation data is coming in hot and ...	MICHAEL MCKEE	[ { "content": "of course you’ll be shocked to learn that you have some critics on Wall Street And I would like to paraphrase a couple of their criticisms and get your reaction to them One is that the new policy framework is that you react to actual data and do not react to forecasts yet the actual inflation data...
To what extent has the more limited impact from tariffs at this stage on inflation changed your view on what the ultimate economic fallout will be from these policies and the timing of when they will materialize in the data?	COLBY SMITH	[ { "content": "To what extent has the more limited impact from tariffs at this stage on inflation changed your view on what the ultimate economic fallout will be from these policies and the timing of when they will materialize in the data?", "role": "user" }, { "content": "So we’ve had three months o...
the rate path starting in December to today and adjust it over the full time horizon you’ve got there you’ve taken about ¼ point per year out of your projected path And you end at a higher rate in end-2027 than you were—would have in the prior forecast Is that a result a sense that tariffs will lead to more persistent ...	HOWARD SCHNEIDER	[ { "content": "the rate path starting in December to today and adjust it over the full time horizon you’ve got there you’ve taken about ¼ point per year out of your projected path And you end at a higher rate in end-2027 than you were—would have in the prior forecast Is that a result a sense that tariffs will le...
Thank you. Chris Rugaber at Associated Press. There is an argument out there in favor of cutting rates more immediately. Inflation has continued to cool and is back at roughly 2 percent, despite the tariffs. And I guess I also wanted to ask about, you know, cracks in the job market, with gross hiring slowing—concentrat...	CHRISTOPHER RUGABER	[ { "content": "Thank you. Chris Rugaber at Associated Press. There is an argument out there in favor of cutting rates more immediately. Inflation has continued to cool and is back at roughly 2 percent, despite the tariffs. And I guess I also wanted to ask about, you know, cracks in the job market, with gross hir...
Thank you. Mr. Chair, I wonder if you could describe for us some of those scenarios. How do you get to a place—I’m noticing that the uncertainty levels in your forecast are very high. How do you get to a place where you have the confidence in the outlook for—say, inflation and/or growth or the unemployment rate—how man...	STEVE LIESMAN	[ { "content": "Thank you. Mr. Chair, I wonder if you could describe for us some of those scenarios. How do you get to a place—I’m noticing that the uncertainty levels in your forecast are very high. How do you get to a place where you have the confidence in the outlook for—say, inflation and/or growth or the une...
Nick Timiraos of the Wall Street Journal. Chair Powell, I guess I’m wondering if you could explain a little more the divergence we see in the dot plot, particularly around the 2025 rate projections. I realize this is—you know, you have one group of officials that are putting down no cuts, another that are putting down ...	NICK TIMIRAOS	[ { "content": "Nick Timiraos of the Wall Street Journal. Chair Powell, I guess I’m wondering if you could explain a little more the divergence we see in the dot plot, particularly around the 2025 rate projections. I realize this is—you know, you have one group of officials that are putting down no cuts, another ...