Jerome Powell speech: Fed does not at all have plan to lengthen balance sheet maturity

Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is now responding to questions from the press, with key quotes, via Reuters, found below.

• More creative thinking is needed for upholding credibility of inflation target.
• Asked if Fed is trying to flatten yield curve, Powell says no.
• Will soon turn to decision on composition of balance sheet.
• Fed does not at all have plan to lengthen balance sheet maturity.

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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.