Federal Reserve Chairman Powell: I am very glad that we did not see the pain we initially expected.

Federal Reserve Chairman Powell: Emerging markets have performed quite well in dealing with policy differences this time.

Federal Reserve Chairman Powell: We can remain patient and will be cautious when approaching a rate cut decision.

Federal Reserve Chairman Powell: Other countries considering rate cuts are not experiencing the growth that the United States is experiencing.

Renaissance Macro analyst Neil Dutta said that Fed Chairman Powell believes that policy is restrictive. If policy is restrictive, they are more worried about the downside risks to economic growth rather than the upside risks to inflation.

Federal Reserve Chairman Powell: I believe that as long as market rents remain low, this will be reflected in inflation.

Federal Reserve Chairman Powell: It will take years for market rents to be fully reflected in renewal rents.

Federal Reserve Chairman Powell: Market rents are barely rising now.

Federal Reserve Chairman Powell: Restrictive monetary policy is doing its job.

Federal Reserve Chairman Powell: We have made considerable progress on the inflation issue.

Federal Reserve Chairman Powell: It will take some time to get inflation down to 2%, but we will succeed.

Federal Reserve Chairman Powell: We have seen progress on wages, but there is still a way to go.

Federal Reserve Chairman Powell: If wage growth exceeds productivity, it will create inflationary pressure.

Federal Reserve Chairman Powell: Incorporating election timing into interest rate decisions will reduce the likelihood of correctness.

Federal Reserve Chairman Powell: The upcoming election is not within our consideration.

Federal Reserve Chairman Powell: We will always act when the time is right, regardless of anything else.

Federal Reserve Chairman Powell: We will not consider political events in our decision-making.

Federal Reserve Chairman Powell: Feel comfortable making the decisions we think are right when we think is right.

Federal Reserve Chairman Powell: How long it will take (for restrictive policies to take effect) and how long we need to be patient will depend on the data.

Federal Reserve Chairman Powell: Restrictive policies need more time to work.