Powell speech: Could be back to old economic peak fairly soon

FOMC Chairman Jerome Powell is delivering his remarks on the economy and policy outlook at an online event organized by Princeton Bendheim Center for Finance.

Key quotes

"This will be a different economy when we come out of the pandemic."

"We are still at early stage of understanding climate change implications for the economy and financial sector."

"We are not living the downside case that was contemplated back in March."

"We could be back to the old economic peak fairly soon."

"We may bypass some of the damage to low-income people as the economy revives with vaccines."

"There is a lot of reason to be optimistic about the US economy."

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.