Jerome Powell actually said...

the overwhelming majority of municipal borrowers are investment grade, and we did limit the facility to that.

Powell explains the Federal Reserve's criteria for municipal borrowing.

12/01/2020

More Jerome Powell Quotes

Custody assets are off-balance-sheet, always have been.

When any President calls you, you come and you meet. But that hasn't happened.

I haven't had a meeting with him. He hasn't sought a meeting.

The question you raised, if I answered it, it would be along some kind of a political avenue.