- Fed's Chair Powell reiterates promise to keep rates near zero until full employment and inflation rises to 2% and is on track to moderate exceed 2% for some time
Market news
23 February 2021
Fed's Chair Powell reiterates promise to keep rates near zero until full employment and inflation rises to 2% and is on track to moderate exceed 2% for some time
- We are strongly committed to achieving monetary policy goals that Congress has given us: maximum employment and price stability
- Economic recovery remains uneven and far from complete, and path ahead is highly uncertain
- Economic momentum has slowed substantially after summer rebound
- Fed will not tighten monetary policy solely in response to a strong labor market
- Fed will clearly communicate "well in advance" of any change to bond buying pace
- It will likely take some time for substantial further progress to be achieved
- Economy is a long way from employment and inflation goals
- We are committed to using our full range of tools to support economy and to help ensure that recovery from this difficult period will be as robust as possible
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