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Powell Says Focus on Exit is Premature

FED

Q: So policies are working, but can you stop doing it when it's time?

- A: We had the same Q's after the global financial crisis... And we can do that again.

(Again, Powell pushes back on taper talk): "We understand as we understood [post-GFC], but even more so we understand the way to do is it communicate well in advance, do predictable things and move gradually.

We're going to be transparent. But honestly, the whole focus on exit is premature if I may say." "We're focused on finishing the job we're doing, which is to support the economy, give the economy the support it needs. ... When we come to exit, we have an understanding of how to do that and we'll do it very carefully but in the meantime our focus is giving the economy the support it needs."

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com