Powell: Fed strongly committed to achieving its goals

tweet at 12:19pm: - Any changes in Fed's QE would need actual progress toward goals - If the Fed does see transitory increases in inflation, expects the Fed will be patient tweet at 12:20pm: *POWELL: RECENT BOND MARKET VOLATILITY `CAUGHT MY ATTENTION' tweet at 12:20pm: POWELL: NOT APPROPRIATE TO ISOLATE ONE INTEREST RATE OR PRICR tweet at 12:21pm: *POWELL: FED WON'T RAISE RATES UNTIL CONDITIONS FULFILLED tweet at 12:23pm: Fed's Powell: To consider raising interest rates, the Fed would need to see max employment, inflation at 2%, and headed above that.

tweet at 12:24pm: Says will communicate sense of progress toward goals well before any QE taper Says rate liftoff guidance is 'pretty specific' and will take some time to get there Our guidance is pretty specific Says liftoff would take place in an economy 'all but fully recovered' tweet at 12:26pm: Says right now, we haven't been making much progress on our goals Says I do expect a pickup in job creation; will assess that when it comes Presumably in next couple of months we'll start to see improvements in employment tweet at 12:29pm: *POWELL SAYS WE WON'T RAISE INTEREST RATES TO COOL ECONOMY JUST BECAUSE EMPLOYMENT GETS HIGH tweet at 12:27pm: Says to see substantial further progress will take some time Says current policy stance is appropriate Says financial conditions are highly accommodative, and that's appropriate Says if conditions change, Fed will use its tools to address tweet at 12:31pm: *POWELL: WELL AWARE OF HISTORY OF HIGH INFLATION, WON'T ALLOW IT

tweet at 12:35pm: Disinflationary pressures not going to go away quickly. Says we are committed to staying on playing field with our tools until 'job is really done' It's good to be where we are relative to what we expected a year ago right now tweet at 12:33pm: *POWELL: DETERMINED NOT TO REPEAT INFLATION MISTAKES OF 1960/70S tweet at 12:37pm: Declines to answer whether he wants a second term as Chair Says there's a lot of ground left to cover