MNI TRANSCRIPT: Powell: MORE "FORMAL COORDINATION" POSSIBLE

     WASHINGTON (MNI) - The following is the portion of a transcript from

Federal Reserve Chairman Jerome Powell's press conference after the FOMC meeting

Wednesday:

     Q: The G7 statement seemed to indicate that policymakers would use tools

but were not going to do anything imminent. Does this contradict that or is this

in keeping with the action, the statement by the G7 this morning? Can I ask what

would cause you to take another step? What would you be looking for as terms of

the economic outlook or data?

     A: The sense of the G7 is to, we have 7 countries obviously, and different

policies, different situations, different mandates, a lot of overlap, the sense

of that is to get together as a group and say at a high level these are things

we are going to do, we are going to use our tools, all of our tools in a strong

way to try to support the economy. That is a statement of general support. I

think within that, you will see actions, you have seen our action. And I think

it's up to individual countries, individual fiscal policies and individual

central banks to do what they are going to do. I would think it will be, it's

possible there will be some more formal coordination as a move forward. In terms

of moving forward, I would say that we do like our current policy stance. We

think it's appropriate to support our dual mandate goals. But as I said in my

statement, we are prepared to use our tools and act appropriately, depending on

the flow of events.

     Q: What would change that?

     A: I can't point to any one thing. It's always a range of things.

--MNI Washington Bureau; +1 202 371 2121; email: ryan.hauser@marketnews.com

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