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WASHINGTON (MNI) - The following is the portion of a transcript from
Federal Reserve Chairman Jerome Powell's press conference after the FOMC meeting
Q: I think you said chair Powell that the primary positive development in
risk to the outlook was on trade. And specifically the prospects for phase 1
agreement with China. Ups and downs of the trade dispute and that several truces
and tentative deals have fallen through, are you concerned about developing
monetary policy guidance through -- that's dependent on good part on the wins of
the trade negotiations.
A: I would not characterize it. I noted it may be that there has been
progress there towards a way -- away from bad outcomes and confrontational
outcomes. I didn't say we are baking it in. As with Brexit it is still uncertain
what will be the result of the election but I would say the tail risk of a
unnegotiated no deal Brexit seems to have decreased. Just as I would say the --
that the situation in our trade negotiations with China seems to have sustain a
step closer to resolution. That's all I'm saying.
Q: Phase 1 agreement and doesn't work out we be back at making, you know,
monetary policy --
A: That's one factor among many, many factors that factor in to our
assessment of outlook and if we have -- if we -- if things happen that cause us
to materially reassess the outlook, change our assessment of the outlook in a
material way, then we would act accordingly.
--MNI Washington Bureau; +1 202 371 2121; email: firstname.lastname@example.org