The unemployment rate in the United States is sure to get worse before it gets better, New York Federal Reserve Bank President John Williams said on Thursday. Additional takeaways “We don’t know what the shape or timescale of the recovery will be.” “Latest numbers do not reveal full extent of financial devastation faced by American families.” “FOMC will keep rates near zero until confident US economy is on track to meet full employment and price stability goals.” “Fed has unwavering commitment to limit the economic damage from the pandemic.” “Fed’s actions to support credit markets and economy are not at all inflationary.” “If anything, inflation is likely to run below trend.” “Goal of monetary policy is to try and minimize long-term damage to the economy.” Market reaction The US Dollar Index is clinging to small daily gains near 99.20 after these comments. 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 EUR/CHF: Short-term trend seems to be shifting higher, with key resistance seen at 1.0654/62 – Credit Suisse FX Street 2 years The unemployment rate in the United States is sure to get worse before it gets better, New York Federal Reserve Bank President John Williams said on Thursday. Additional takeaways "We don't know what the shape or timescale of the recovery will be." "Latest numbers do not reveal full extent of financial devastation faced by American families." "FOMC will keep rates near zero until confident US economy is on track to meet full employment and price stability goals." "Fed has unwavering commitment to limit the economic damage from the pandemic." "Fed's actions to support credit markets and economy are not at all… 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.
