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Federal Reserve chairman Jerome Powell wants to make America’s central bank easier to understand and more open to the public.
In a departure from precedent, Powell began the press conference following the meeting of the Fed’s monetary conference with what he described as a “plain English” statement of the Fed’s view of the economy and its policy.
Takeaway - Economy - People - Jobs - Unemployment
“The main takeaway is that economy is doing very well. Most people who want to find jobs are finding them. And unemployment and inflation are low,” Powell said.
Powell also announced another departure from precedent. Beginning in January, the Fed chair will hold a press conference after every meeting of the Federal Open Markets Committee. Until now, those have been held every other meeting.
Chairman - Conversation - Fed
“As chairman, I hope to foster a conversation about what the Fed...
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