These are 5 highlights of Federal Reserve Chair Jerome Powell’s Press Conference today:
(1) We are facing disinflationary pressures, not inflationary pressures.
(2) We will be there (accommodative policy) for a very long time until we are sure that it is no longer needed.
(3) High frequency data indicate that the economy’s rate of growth is slowing.
(4) The Federal Reserve has not considered purchasing equities, but has purchased corporate and municipal bonds.
(5) Our banks are in a very strong financial position and a source of strength in the economy.