MNI TRANSCRIPT: Powell on Financial Conditions

     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: To just follow-up, you also said the favorable outlook is predicated on

financial conditions and the financial conditions are, are in-turn, predicated

on all for fed policy, in this case, further cut. Wouldn't that suggest that you

should be inclined to -- if you want those financial conditions and favorable

outlook to come about, you should be inclined to cut?

     A: What we're doing going forward is going to depend on the flow of data

and information. If you look at things we're monitoring, particularly global

growth and trade developments. Global growth has continued to weaken, it's

weakened since our last meeting. Trade developments have been up and down and

back up, perhaps, over the course of this period. In any case, quite volatile.

More heightened now. We'll be watching that carefully and watching the U.S. data

quite carefully. We'll have to make an assessment as we go.

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

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