Powell: Policy will move over time to neutral if economy meets forecasts

The title of the speech is “Finding Harmony in the Noise: Transitioning to a New Normal”. These are his first comments since the Sept 18 FOMC press conference.

More to come

• Risks are two-sided, decisions will come meeting by meeting
• We do not need to see further cooling in the labor market to achieve target
• Economy is in solid shape, we intend to use our tools to keep it there
• Labor market conditions are solid, labor market roughly in balance
• Colleagues and I have greater confidence inflation is on a sustainable path to 2%
• Disinflation is broad based; recent data indicate further progress toward sustained return to 2%
• Housing services inflation will continue to decline as long as growth rate in rents for new tenants remains low
• 50 bps cut reflects growing confidence that appropriate policy re calibration can maintain labor market strength
• Full text

These comments are very similar to what he said at the press conference. He will take questions afterwards.

This article was written by Adam Button at www.forexlive.com.