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10/22, 5:49 PM (Source: TeleTrader)
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Communication with stock markets worked well - Powell

Federal Reserve Chair Jerome Powell shared during a virtual conference on Friday that the central bank's communication of its policy intentions to equity markets has worked well so far, as he believes the market "generally understands" Fed's stance.

"The main focus, now, of course, is on taper - and I think the communication on that worked," Powell said, adding that the Fed strives to be as transparent as possible.

Powell also noted the Fed is "very mindful" of the effect their decision may have on global financial conditions.

Breaking the News / LH