LIVE | Fed Chair Jerome Powell:

•The US economy is based on solid foundations.

•Current policy encourages progress towards two objectives.

•The US economy grew steadily last year.

•The interest rate cuts made last year have made the policy stance 'appropriate' to support the Fed's objectives.

•The effects of the government shutdown are expected to reverse this quarter.

•The shutdown likely negatively impacted Q4 growth, but this situation will reverse.

•We are overcoming the data distortions caused by the shutdown.

•Inflation continues to remain slightly above the target level.

•The policy is not on a predetermined path.

•We will continue to fulfill our commitment to serve the American people and maintain our neutrality.

•We will continue to make decisions from meeting to meeting.

•In the long term, inflation expectations are aligned with the target.

•We are well positioned to determine the scope and timing of additional interest rate adjustments.

•The policy interest rate is within a reasonable neutral range.

•The outlook for economic activity has clearly improved since the last meeting.

• Our goal is to conduct our activities neutrally.

•The Fed does not comment on the dollar. Movements of the dollar are not our domain. This is the business of other institutions.