Powell speech: Capital in banking system is in a good place

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

"US banks made it through a real stress test very well."

"Capital in the banking system is in a good place."

"We are looking at ways to make money market funds and corporate bond funds more resilient."

"There are some questions about treasury market structure, work being done to see if there's something we can do about it."

"We need it to function well for the good of our economy."

"US Treasury Department will lead the review of treasury market structure."

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.