Powell said nothing about monetary policy in his latest meeting speech

PANews reported on July 22 that Federal Reserve Chairman Powell delivered a welcome speech at a regulatory conference today, but as expected, he did not make any controversial or news-making remarks. Powell did not give any monetary policy hints in his brief pre-prepared speech, nor did he mention the pressure from the Trump administration. This is not surprising, as Federal Reserve officials are in a "quiet period" before the July 29-30 meeting and are not allowed to make public comments on interest rates and the economy. However, he said he welcomed comments on bank regulatory rules and capital issues. "The Federal Reserve is a dynamic institution," Powell said. "We are willing to listen to new ideas and feedback on how to improve the capital framework for large banks, and I look forward to hearing from today's participants."