Fed chair asked about gold, makes it about credibility...

MATT EGAN. Thanks for that answer. If I may follow-up. As I'm sure you've noticed, gold and silver prices have experienced historic gains of late, and I'm wondering how much attention, if any, you pay to those moves, and what message you may take from these significant price increases we've seen for precious metals.

CHAIR POWELL. Don't take much message macroeconomically. The argument can be made, that we're losing credibility or something, it's simply not the case. If you look—if you look at where inflation expectations are, our credibility is right where it needs to be. So, we look at those things, we don't get spun up over particular asset price changes, although we do monitor them, of course.

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