Powell speech: Fed in process of putting away emergncy tools

FOMC Chairman Jerome Powell is responding to questions at a virtual town hall with educators and students.

Key quotes

"Millions of people in service sector jobs still out of work, that's a part of recovery that's far from complete."

"Fed is in process of fully putting away its tools designed for actual emergencies."

"Digital money is becoming more and more important."

"Very interesting and challenging question whether fed should have a digital currency."

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.