Federal Reserve Chairman Powell: The policy focus has been on how to maintain the current restrictive level; this is what was discussed in the meeting.

Federal Reserve Chairman Powell: We are not satisfied with the inflation rate of 3%, and we will gradually restore the inflation rate to 2%.

Federal Reserve Chairman Powell: Immigrants may initially create more supply rather than demand in the economy.

Federal Reserve Chairman Powell: Immigration will have a neutral impact on inflation in the long run.

Federal Reserve Chairman Powell: Slowing the pace of balance sheet reduction does not mean policy easing.

The USD/JPY pair fell more than 0.50% during the day and is now trading at 157.02.

Federal Reserve Chairman Powell: The current slowdown in the pace of balance sheet reduction is intended to ensure a smooth process rather than causing market turmoil like last time.

Federal Reserve Chairman Powell: Interest rates are an active tool of monetary policy.

Federal Reserve Chairman Powell: Data shows that there may be a considerable lag in the recovery of falling market rents.

Federal Reserve Chairman Powell: Commodity and housing inflation have been higher than expected since December last year.

Traders see September as a likely date for the first Fed rate cut, with a probability of about 62%.

Federal Reserve Chairman Powell: When we are confident about inflation, rate cuts will be possible.

Federal Reserve Chairman Powell: Further assistance on the supply side is not ruled out.

U.S. short-term interest rate futures rose as Federal Reserve Chairman Jerome Powell spoke.

Federal Reserve Chairman Powell discussed the interest rate outlook, and the U.S. 5-year Treasury yield fell 10 basis points during the day.

Federal Reserve Chairman Powell: There is no clear link between loose financial conditions and inflation.