Powell's speech: Fed highly motivated to get labor market back to where it was before pandemic.

Jerome Powell, Chairman of the Federal Reserve System, is delivering the semiannual monetary policy report and testifying before the Senate Banking Committee.

Key quotes

"We may be reaching the economic bottom from the shutdown."

"We appear to be seeing the beginning of the bounce back."

"The Fed considers racial disparities as a routine matter in its work."

"A tight job market is the single best thing the Fed can do to support gains of minority communities."

"The Fed is highly motivated to get the labor market back to where it was before the pandemic."

About Jerome Powell (via Federalreserve.gov)

Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. He was reappointed to the Board and sworn in on June 16, 2014, for a term ending January 31, 2028.