Powell: Treasury purchases may remain elevated for few months

*POWELL: INFLATION REMAINS SOMEWHAT ELEVATED FED POWELL: JOBS & INFLATION OUTLOOK UNCHANGED SINCE LAST MEETING Fed's Powell: The labour market appears to be gradually cooling. *POWELL: DATA SUGGEST ECONOMY EXPANDING AT MODERATE PACE *POWELL: CONSUMER SPENDING REMAINS SOLID *POWELL: BUSINESS FIXED INVESTMENT HAS CONTINUED TO EXPAND Fed's Powell: The effects of the shutdown should be offset by higher growth next quarter from the reopening.

Fed's Powell: Available evidence suggests layoffs and hiring remain low. POWELL: READINGS ON INFLATION ARE HIGHER AS GOODS INFLATION HAS PICKED UP *POWELL: MOST L/T INFLATION EXPECTATIONS CONSISTENT WITH 2% GOAL *POWELL: DISINFLATION APPEARS TO BE CONTINUING FOR SERVICES FED POWELL: INFLATION RISKS ARE TILTED UP, EMPLOYMENT RISKS TILTED DOWN, AND THERE IS NO RISK-FREE POLICY PATH. Fed's Powell: With downside risks to employment having risen, the balance of risks shifted in the recent months.

Fed's powell: It is a less likely possibility that the labour market gets tight and boosts inflation; not particularly likely. Fed's Powell, when asked if we are seeing a positive productivity shock: Yes.