Fed's Powell: We will act as appropriate to sustain the expansion

FOMC Chairman Jerome Powell is crossing the wires as he speaks on the Fed's monetary policy strategy, communications, and tools at an event organized by the Federal Reserve Bank of Chicago.

Key quotes (via Reuters)

• I’d like first to say a word about recent developments involving trade negotiations and other matters. We do not know how or when these issues will be resolved.
• We are closely monitoring the implications of these developments for the U.S. economic outlook.
• We will act as appropriate to sustain the expansion, we will act as appropriate to sustain the expansion, with a strong labor market and inflation near our symmetric 2 percent objective.