Boooooooolishous baby yeeeeh . Jpow pump me please baby xx
The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The coronavirus outbreak is causing tremendous human and economic hardship across the United States and around the world. Following sharp declines, economic activity and employment have picked up somewhat in recent months but remain well below their levels at the beginning of the year. Weaker demand and significantly lower oil prices are holding down consumer price inflation. Overall financial conditions have improved in recent ... (full story)
FOMC Statement:— DailyFX Team Live (@DailyFXTeam) July 29, 2020
-Fed Funds rate left unchanged at 0.0-0.25%
-Reiterates commitment to using full range of tools to support US economy
-Economic activity, financial conditions and employment has improved somewhat in recent months but still well below pre-pandemic levels
The Federal Reserve held interest rates steady in a decision announced Wednesday that came along with a tepid outlook on the coronavirus-plagued economy. In a decision widely expected, the central bank kept its benchmark overnight lending rate anchored near zero, where it has been since March 15 in the early days of the pandemic. Along with keeping rates low, the Federal Open Market Committee, which sets monetary policy, expressed its commitment to maintain its bond purchases and the array of lending and liquidity programs also associated with the virus response. The post-meeting statement labeled the current state ... (full story)
Since the last FOMC statement on June 10th, when Chair Powell pretty-much went "all-in", gold has exploded higher, the dollar has weakened, and stocks tumbled... image And the yield curve has flattened dramatically... image Neither of which are good signs for The Fed's credibility. Worse still, the market is pricing in negative rates at or before Dec 2021 and basically zero rates for the foreseeable future... image So, as we noted in the preview, how can Powell "out-dove" a market that is already at historic levels of implied dovishness? As BofA ominously warns, "perception that the Fed is out of ammo could cause a ... (full story)
Republicans and Democrats appeared far from striking a coronavirus relief deal Wednesday as millions of Americans wait to see whether Congress will renew financial lifelines ...
The Federal Reserve is stuck in a monetary policy limbo. Policy makers know they will soon be under pressure to do more to support the economy, but have yet to agree on what ...
tweet at 12:33pm: *ITALY GOVERNMENT WINS SENATE VOTE ON EU25B EXTRA SPENDING
The Federal Reserve on Wednesday announced the extensions of its temporary U.S. dollar liquidity swap lines and the temporary repurchase agreement facility for foreign and ...
tweet at 2:31pm: *POWELL: ALL OF US HAVE ROLE TO PLAY IN RESPONDING TO PANDEMIC *POWELL: FED AIMS TO ENSURE STRONG RECOVERY, LIMIT DAMAGE *POWELL: HOUSEHOLD SPENDING HAS RECOVERED ABOUT HALF OF DROP tweet at 2:32pm: *POWELL: BUSINESS FIXED INVESTMENT YET TO SHOW RECOVERY *POWELL: 2Q GDP CONTRACTION LIKELY TO BE BIGGEST ON RECORD tweet at 2:35pm: Fed Chair Powell: -Higher food prices have added to burdens for those struggling with lost income -Overall inflation is running well below symmetric 2% objective -Sees signs that rising new virus cases is weighing on the economy -Economic outlook extraordinarily uncertain tweet at 2:37pm: Fed Chair Powell: -Path for economy depends on actions at all levels of government -Fed committed to using full range of tools -Preserving flow of credit is essential for mitigating damage to the economy -Full economic recovery unlikely until people feel safe tweet at 2:39pm: Fed Chair Powell: -Echoes that the Federal Reserve can only make loans, not grants -Direct fiscal support may be needed