Chair of the Federal Reserve Powell comments from text prepared for his hearing before the Senate Banking Committee.
Nothing new from Powell in these remarks.
- “We are committed to using our full range of tools to support the economy in this challenging time even as we recognize that these actions are only a part of a broader public-sector response”
- “We expect to maintain interest rates at this level until we are confident that the economy has weathered recent events and is on track to achieve our maximum-employment and price-stability goals.”
Powell is scheduled to appear in the virtual hearing at 10 am Tuesday in Washington
- US Treasury Secretary Steven Mnuchin will also appear