The economic recovery in the US this year depends on the spread of the coronavirus, FOMC Chairman Jerome Powell said during the Q&A session of an online event hosted by the Brookings Institution on Thursday. Additional takeaways “When businesses can reopen, the Fed expects a fairly quick rebound in the second half of this year.” “The Fed can keep providing support to the economy as long as needs arise, no limit to how long it can do it.” “Inflation is not a first-order concern for us today.” “The most important thing the Fed can do is support a robust recovery when it does come.” “More fiscal support is likely to be appropriate.” “In many cases, people really need direct fiscal support, not Fed loans.” “The Fed won’t hesitate to move into new areas if support is needed.” “The Fed’s priority is areas of markets that are most fundamental to supporting the real economy.” “The Fed will adjust its programs, willing to adapt as needed.” “Big banks don’t need to stop dividends at this point, they are high capitalized.” Market reaction The US Dollar Index largely ignored these comments and was last seen down 0.52% on the day at 99.65. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US CPI March Preview: Falling prices does not wear down the dollar FX Street 2 years The economic recovery in the US this year depends on the spread of the coronavirus, FOMC Chairman Jerome Powell said during the Q&A session of an online event hosted by the Brookings Institution on Thursday. Additional takeaways "When businesses can reopen, the Fed expects a fairly quick rebound in the second half of this year." "The Fed can keep providing support to the economy as long as needs arise, no limit to how long it can do it." "Inflation is not a first-order concern for us today." "The most important thing the Fed can do is support a robust recovery when… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
