Powell: Current Economic Issues | Forex Factory

  • Powell: Current Economic Issues

    From federalreserve.gov

    The coronavirus has left a devastating human and economic toll in its wake as it has spread around the globe. This is a worldwide public health crisis, and health-care workers have been the first responders, showing courage and determination and earning our lasting gratitude. So have the legions of other essential workers who put themselves at risk every day on our behalf. As a nation, we have temporarily withdrawn from many kinds of economic and social activity to help slow the spread of the virus. Some sectors of the economy have been effectively closed since mid-March. People have put their lives and livelihoods ... (full story)

Added at 8:02am
Added at 8:02am

Added at 8:03am

Added at 8:05am

  • Powell says more policy help may be needed to pull the US out of economic downturn

    From cnbc.com

    Federal Reserve Chairman Jerome Powell said Wednesday that policymakers may have to use additional weapons to pull the country out of an economic mire that has cost at least 20 million jobs and caused “a level of pain that is hard to capture in words.” While he did not specify what those measures are and where they would come from, Powell said that the coronavirus has triggered a situation unlike previous recessions the U.S. has endured, and the response may have to be more from Congress than the Fed. He noted the unprecedented strength of the both the fiscal and monetary measures, but stressed the importance of ... (full story)

Comment Options
el_duende
May 13, 2020 8:08am
Permalink
Essentially

Economy completed biffed we need to pump more money into the hands of the wealthy elites
Reply
aquavox
May 13, 2020 8:35am
Permalink
? don't understand where the "slightest loss" is coming or going from ?
the problem for the FED is that , they cannot 'pull' the economy out of a economic downturn, the "unprecedented strength of fiscal and monetary measures " cannot work if the population do not want to , or cannot afford to, spend that illusory dollar on things they don;t need or cannot afford.
Reply
OutThere
May 13, 2020 6:53pm
Permalink
I wonder when they are going to create jobs like they did during the great recession?
There is probably several years worth of work there to replace all the collapsing bridges in US.
How about starting to save the coastal cities now instead of waiting until they drown and then issue stimulus checks for the affected?
Reply
Marcieny
May 13, 2020 8:21am
Permalink
At least the usa yet can still come out on the slightest loss while other countries the stocks haven't even returned.
Reply
hesron
May 13, 2020 8:36am
Permalink
fed need help to buy usd
Reply
ilhaner
May 13, 2020 8:15am
Permalink
"Recall that the Fed has lending powers, not spending powers."

Imagine Fed buying all sorts of junk on behalf of people and mail it to their homes.
Reply
NYRogue
May 13, 2020 8:13am
Permalink
Summary: Useless eaters- take your $1200 while you can, you're paying for it. We are now allowed to print additional money and buy "other" assets- say hello to your new landlord America.
Reply

  • Related Stories

There are no posts to display for these settings.
  • Story Stats