Testifying before Congress for the second day, Powell noted that bond-buying would continue at the current pace until the economy moves closer to Fed's inflation and employment goals.
In his opening statement published yesterday, Powell said that the American economy remains far from reaching employment and inflation goals. The targeted unemployment rate was previously set at around 5.0 percent.
Powell also insisted that the United States doesn't have to be the first country in the world to establish a digital currency.
Speaking in Congress, Powell noted that the Fed is "carefully looking" at the issue of the digital dollar in both policy and technical terms, adding that the project has a high priority at the Fed.