Powell speech: More support will be needed from Congress and Fed to aid recovery

Jerome Powell, Chairman of the Federal Reserve System, is delivering the semiannual monetary policy report and testifying before the Senate Banking Committee.

Key quotes

"There is a reasonable probability that more support will be needed from Congress and the Fed to aid recovery."

"Will announce results of the Fed bank stress tests June 25."

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.