Pandemic lending programs have been very helpful and it’s disappointing to see them end, Chicago Federal Reserve Bank President Charles Evans told CNBC on Friday, as reported by Reuters.
Additional takeaways
“Economy is working through the virus.”
“We worry about rising cases, challenged sectors like hospitality, even factories.”
“There are risks, would be good to have more support from all directions.”
“Fed Chair and NY Fed and Fed board have been working with Treasury.”
“Fed has a robust plan for the policy.”
“Will keep rates at zero until max employment, 2% inflation.”
“Looking at the scale of asset purchases, currently providing a tremendous amount of support.”
“We are in a pretty good place to see how this will play out with transition, fiscal support and vaccine.”
“Looking to spring to see how things will go, can do more to enhance QE.”
“Expanding maturity is part of the Fed’s tool kit, could also increase balance sheet more quickly if appropriate.”
Market reaction
The US Dollar Index largely ignored those comments and was last seen gaining 0.05% on the day at 92.35.
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