Transcript of Chair Powell's Press Conference -- April 28, 2021

The path of the economy continues to depend significantly on the course of the virus and the measures undertaken to control its spread. [...] Page 3 of 29 April 28, 2021 Chair Powell’s Press Conference FINAL Our guidance for interest rates and asset purchases ties the path of the federal funds rate and the size of the balance sheet to our employment and inflation goals. [...] Yes, so we have to leave questions about herd immunity and what that looks like to the health experts, but, but I would certainly say that what matters the most to the economic recovery continues to be controlling the virus. [...] It’s much harder to predict with confidence the amount of time it will take to resolve the bottlenecks, or for that matter, the temporary effects that they will have on prices in the meantime. [...] So I think capital requirements for banks are, to me—went up tremendously, really, over the course of the 10 years between the financial crisis and the arrival of the pandemic.