According to online reports, Federal Reserve Chairman Powell delivered an opening speech at an event. He said that the Federal Reserve still needs to have an in-depth understanding of the policies and practices of other governments and central banks, and their impact on the U.S. economy and financial markets. The end of the Bretton Woods system in the 1970s fundamentally changed the way monetary policy is implemented. Exchange rate policy is now largely the responsibility of the U.S. Treasury, and policymakers must understand the impact of potentially more violent fluctuations in the dollar on U.S. households and businesses. It is reported that Federal Reserve Chairman Powell did not comment on monetary policy and economic prospects.