The Federal Reserve’s emergency facilities demonstrate its commitment to preventing lasting damage to the economy, John Williams, President of the Federal Reserve Bank of New York, said on Thursday.
“The scale and the reach of the Fed’s response is an indication of the gravity and unique nature of the situation,” Williams added. “The relatively low take-up of the Fed’s facilities is a measure of success.”
Market reaction
The US Dollar Index largely ignored these comments and was last seen losing 0.05% on the day at 96.00.
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