Fed Chair Powell Says CB Will Remain Alert to Financial Stability Risks

New Federal Reserve Chairman Jerome Powell on Tuesday said the central bank “will remain alert” to any risks to financial stability, marking his maiden attempt to soothe financial markets.

In brief prepared remarks at his swearing-in ceremony, Powell reminded the audience that Washington made enormous strides in its effort to strengthen the banking sector in the wake of the financial crisis.



“The financial system is incomparably stronger and safer, with much higher capital and liquidity, better risk management, and other improvements,” Powell said.

The new Fed chairman has had a busy 10 days in office. Stock prices SPX, -0.17%   have gyrated, and analysts are debating whether there will be a “Powell put” to calm the market’s frayed nerves.

via MarketWatch

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza