Powell's speech: No decision yet to go forward with yield curve control

Jerome Powell, Chairman of the Federal Reserve System, is delivering the semiannual monetary policy report and testifying before the Senate Banking Committee.

Key quotes

"The Fed has made absolutely no decision yet to go forward with yield curve control."

"Concept of using yield curve control at the Fed is at an early stage."

"The Fed was more worried a couple of months ago about stresses in the housing market."

"Currently it does not appear there is any need for a new Fed facility directed at housing relief."

About Jerome Powell (via Federalreserve.gov)

Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. He was reappointed to the Board and sworn in on June 16, 2014, for a term ending January 31, 2028.