Powell, Bowman: Community Bank Conference

Good morning and welcome to the Federal Reserve Board. I am sorry that I'm traveling and could not be with you today. Thank you to Vice Chair for Supervision Miki Bowman for hosting this conference. Thank you also to all the Board staff that made this event possible. Community banks play a vital role in the U.S. financial system because they have strong links to the people and businesses they serve, and direct knowledge of local economic conditions. These close ties allow community bankers to better understand their customers, and the ensuing products and services for those they serve. I saw this clearly when I led the Board's community and regional bank subcommittee as a governor. I have also seen the critical role of community banks in the communities where I have lived, including as a community-bank customer. Federal Reserve's Powell Doesn't Talk About Monetary Policy or Economic Outlook During Welcome Speech at Community Bank Conference.

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