Powell speech: Economy can withstand monetary policy moves

Europen Central Bank (ECB) President Christine Lagarde, FOMC Chairman Jerome Powell and Bank of England (BOE) Governor Andrew Bailey speak on the policy outlook at the ECB's annual Forum on Central Banking.

Key quotes

Powell: "Households are overall in a strong state, the same is true for businesses."

Powell: "The labour market is tremendously strong."

Powell: "The economy can withstand monetary policy moves."

Powell: "Our aim is to have growth moderate."

Powell: "There are pathways to go back to 2% inflation with a strong labour market; no guarantee."

Powell: "Events of the last few months made the Fed's job more challenging."

Powell: "The pathway has gotten narrower."

Market reaction

The EUR/USD pair struggles to gain traction and was last seen posting small daily losses at 1.0508.