Search ForexCrunch

Philadelphia Federal Reserve Bank President Patrick Harker is crossing the wires and has said that banks should not issue large dividends at the moment.

Key comments

  • Sees ‘brutally painful’ second quarter.
  • Says US economy will underperform until virus is under control || fed is considering facilities that would lend directly to colleges, non-profit.
  • Says could see robust growth in 2H if US economy reopens in June with smart measures to contain virus || says that without effective mitigation measures, economy could severely contract again in 2021.

More to come…