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Atlanta Fed President Raphael Bostic said on Monday that he was optimistic about the Federal Reserve’s and Congress’ response to the coronavirus crisis and added that the recovery should be “much more robust” than from a usual recession.

Additional takeaways

“It’s difficult to predict how many more may become jobless in coming weeks given lack of historical precedent for this type of event.”

“The strength of the recovery depends on whether families and businesses trust that health risks are controlled, or whether they lose confidence.”

“The Fed basically trying to monitor every market in the country to see if stresses emerge.”

“The aim of the Fed, congressional programs is to take the pressure off businesses to meet revenue targets.”

“It’s important for the US to avoid a housing crisis growing out of the pandemic.”

Market reaction

The US Dollar Index continues to move sideways a little above the 99.50 handle after these comments.