Powell Speech: We have avoided a great deal of scarring

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FOMC Chairman Jerome Powell is delivering his remarks at the International Monetary Fund’s (IMF) seminar entitled “Debate on the Global Economy.”

Key quotes

“Unemployment rate among bottom quartile is 20%.”

“We are not going back to the same economy.”

“There will be millions of people who have a hard time getting jobs; will be appropriate to continue to support them.”

“We have avoided a great deal of scarring.”

“We need to keep supporting the economy, and we will.”

Market reaction

The US Dollar Index remains on the back foot after these comments and was last seen losing 0.4% on the day at 92.06.

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