Following the Federal Open Market Committee's (FOMC) decision to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his comments on the policy outlook.
Key quotes
"Fed's MBS purchases are not meant to provide direct assistance to the housing market."
"They are closely related to treasury market."
"Fed will taper asset purchases when the time comes."
"Time for taper is not yet."
"We are not close to substantial further progress."
"What we have seen is not close to substantial further progress."
"When the time comes to talking about taper, we will."
"We just need to see more data."
