Comments from Powell
- Housing has been improving right across the country
- Pace of improvement in economy slowing, recovery uneven
- Since May/June, recovery stronger than expected
- There are signs that people will pull back activity
- Most forecasters see continuing recovery
- Next few months may be challenging
- About 15 states have imposed restrictions recently
- The vaccine news is certainly good news in the medium term
- Women have been forced to leave the workforce
- We will go back to a different economy, particularly for the service sector
- We're going to use all our tools to support the recovery until the job is well-and-truly done
There's nothing new or surprising so far. The Fed isn't going to make a move on rates for years. One thing that's a bit notable is what he isn't saying; there's no hint at more action.
