Central bank chief says damage from
COVID-19 is not short term
Published in Marketwatch on April 29, 2020
By Greg Robb
Federal Reserve Chairman Jerome Powell said the trillions of dollars spent to support the U.S. economy in the wake of the coronavirus pandemic will likely not be enough if there is to be a robust recovery.
“I would say that it may well be the case that the economy will need more support from all of us if the recovery is to be a robust one,” Powell told reporters gathered on a webcast Wednesday…
Powell refused to be drawn into a discussion of Treasury and mortgage asset purchases, which are now “open-ended,” but have slowed in recent weeks.
He said the Fed has mulled changes to these purchases but wants to see which of the “potential paths the economy could be on” before deciding. Since first week of March, the Fed has purchased $1.4 trillion in U.S. Treasurys.
More at:
https://www.marketwatch.com/story/fed-says-it-will-do-everything-it-can-to-support-economy-facing-continued-public-health-crisis-2020-04-29?mod=home-page
Published in Marketwatch on April 29, 2020
By Greg Robb
Federal Reserve Chairman Jerome Powell said the trillions of dollars spent to support the U.S. economy in the wake of the coronavirus pandemic will likely not be enough if there is to be a robust recovery.
“I would say that it may well be the case that the economy will need more support from all of us if the recovery is to be a robust one,” Powell told reporters gathered on a webcast Wednesday…
Powell refused to be drawn into a discussion of Treasury and mortgage asset purchases, which are now “open-ended,” but have slowed in recent weeks.
He said the Fed has mulled changes to these purchases but wants to see which of the “potential paths the economy could be on” before deciding. Since first week of March, the Fed has purchased $1.4 trillion in U.S. Treasurys.
More at:
https://www.marketwatch.com/story/fed-says-it-will-do-everything-it-can-to-support-economy-facing-continued-public-health-crisis-2020-04-29?mod=home-page
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