Powell: Now is not the time to be talking about Fed exit

Author: Greg Michalowski | Category: Central Banks

More from Fed's Powell


  • Now is not the time to be talking about Fed exit
  • Economy is far from Fed's goals
  • Taper tantrum highlights sensitivity about bond buying
  • We know we need to be very careful in communicating
  • Guidance on rates, asset purchases is not timebase but outcome based
  • We will be very very transparent as we get close
  • When it does become appropriate to discuss specific dates for QE taper, we will let the world know
  • This will be a different economy will we come out of the pandemic
  • We are still at early stage of understanding climate change implications for the economy and financial sector
  • We are not living the downside case that was contemplated
  • We could be back to the old economic peak fairly soon
  • There are a lot of reasons to be optimistic about the US economy
Powell finished his comments at 1:34 PM ET:
  • stocks are little changed from levels at the start of his speech. S&P is up around 6 points or 0.16%. The NASDAQ index is up 33 points or 0.25%
  • US yields moved higher with the 10 year trading at 1.110%, up 2.7 basis points. That's just off the high of 1.115%. The 30 year yield is at 1.85 8%, up 4.2 basis points. The high reached 1.8637%
  • Spot gold is trading up $7.05 or 0.38% $1852.56. The high price during the speech extended to $1857.56
  • The US dollar moved lower during the speech but recovered some of the declines in the last half.
For bank trade ideas, check out eFX Plus 
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose