Powell speech: Housing prices are moving up across the country at a high rate

FOMC Chairman Jerome Powell is responding to questions after delivering the US Federal Reserve's semiannual Monetary Policy Report to the US House Committee on Financial Services.

Key quotes

"Housing prices are moving up across the country at a high rate."

"Housing market is not being driven by reckless lending so far."

"Low rates are driving up house prices but also personal preferences, material shortages."

"Fed expects to publish a report on digital currency in early September."

"Risks to a central bank digital currency are real."

"Need an appropriate regulatory framework for stablecoins."

About Jerome Powell (via Federalreserve.gov)

Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. He was reappointed to the Board and sworn in on June 16, 2014, for a term ending January 31, 2028.