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MNI TRANSCRIPT: Powell Says Action "Appropriate"

     WASHINGTON (MNI) - The following is the portion of a transcript from
Federal Reserve Chairman Jerome Powell's press conference on Tuesday:
     Q: Has the committee discussed any other monetary policy tools in addition
to rate cuts and the pacing and timing of when they might be appropriate?
     A: As you know, we are in the middle of a review of all of our tools, if
you go back a few meetings we talked about what our toolkit is. We have put that
in the minutes. But in the current context, no. What we discussed is the current
stance of policy, is it appropriate, came to the view that it was appropriate to
make a change and did that today.
--MNI Washington Bureau; +1 202 371 2121; email: ryan.hauser@marketnews.com
[TOPICS: MMUFE$,M$U$$$]

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