Jerome Powell speech: No signal on which direction Fed rate policy should move

Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is now responding to questions from the press, with key quotes found below.

• Data not currently sending a signal on which direction Fed rate policy should move.
• Will not comment on White House economic projections.
• Tax and spending policies adopted last year should have some supply side effects; hard to know.
• Its a great time for us to be patient.

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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.