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Powell Declines to Comment on Gamestop

FED

Q&A Begins.
Q: The first question is about the "wild ride" stocks have had this week - namely, GameStop. And 2nd, re macroprudential tools to ensure financial stability in banks, and what they are doing to do same with non-banks.
- A: Powell waves off the first question, saying he doesn't want to comment on a particular company's market activity. Re macroprudential policy, Powell says Fed monitors financial conditions very broadly, and other agencies have jurisdiction in many areas in the non-bank sector. "We are engaged in carefully examining and understanding and thinking about what in the non-bank sector will need to be addressed in the next year or so"

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