Powell speech: Risks to the outlook moved in a positive direction

Following the Federal Open Market Committee's (FOMC) decision to lower the federal funds target rate by 25 basis points to 1.5% - 1.75% range, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his remarks on the policy outlook, with key quotes, via Reuters, found below.

"The performance of the US economy, particularly the household sector, has been strong."

"Risks to economic outlook seem to have moved in a positive direction.

"It would take a material reassessment in the outlook for the Fed to change its policy stance."

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.