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Powell Defends Decision Not to Increase Duration of Asset Purchases

FED

Q: Why not increase the duration of asset purchases at this time given what you see is a challenging period ahead?

  • A: We provided guidance... Since September we have adopted a flexible average inflation targeting framework... We provided rate guidance and now the same for assets. So "We think that the prior language "In coming months" was temporary. [The new guidance] links those purchases to actual substantial further progress towards our mandated goals.
  • We think that is important and we think it was important to have done."
  • "We continue to think our current policy stance is accommodative...providing a great deal of support for the economy. ..financial conditions are highly accommodative..."We think the asset purchase guidance is very important. We think that the prior language in coming months was temporary. That links those purchases to actual substantial further progress towards our mandated goals. We think that is important and we think it was important to have done."
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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