PANews reported on June 3 that Federal Reserve Chairman Powell delivered an opening speech at an event, saying that the Fed still needs to gain a deeper 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 mainly the responsibility of the U.S. Treasury Department, and policymakers must understand the impact of potential more drastic fluctuations in the U.S. dollar on U.S. households and businesses. It is reported that Federal Reserve Chairman Powell did not comment on monetary policy and economic prospects.