Fed’s Williams: Fed set up to make sure credit is flowing to businesses

New York Federal Reserve President John Williams said on Friday that COVID hit certain sectors hard, such as travel and arts, as reported by Reuters.

“The Fed set up to make sure credit is flowing to businesses and state and local entities,” Williams further noted. Commenting on the economic outlook, Williams said that he is an optimist but acknowledged that it’s going to be a challenging period.

Market reaction

The US Dollar Index largely ignored these comments and was last seen losing 0.15% on a daily basis at 93.64.