Jerome Powell

The Federal Reserve is committed to fulfilling our statutory mandate of stable prices and maximum employment.

The longer workers are unemployed, the greater the likelihood that their skills will erode and workers will lose attachment to the labor force, permanently damaging the economy's dynamism and potential output.

As with so many sectors of the economy, technology is transforming the retail banking sector.

The success of monetary policy should be judged by the economy's performance against our statutory mandates of price stability and maximum employment.

An increase in the debt ceiling should be accompanied by fundamental policy reforms, substantial budget savings, and a strong enforcement mechanism to tie the hands of any future Congress.

Although I have never worked in a community bank, I have been a customer, and I know from personal experience the special skills that these institutions bring to their customers.

While monetary policy can contribute to growth by supporting a durable expansion in a context of price stability, it cannot reliably affect the long-run sustainable level of the economy's growth.

The financial crisis and the Great Recession left firms with excess capacity, reducing incentives to invest. If businesses expect slower growth to continue, that will also hold down investment.

Given that trade benefited the Asian economies on the way up, it seems natural that the slowdown in global trade, whatever its causes, could lead to some loss of dynamism and growth in the region.

We need a national focus on increasing the sustainable growth rate of our economy.

The Federal Reserve seeks to support MDIs in a number of ways, including our Partnership for Progress, our program for outreach and technical assistance to MDIs.