The Federal Reserve has taken an approach that will naturally adjust if the economy does better than expected, the president of the Federal Reserve said on Tuesday. New York Federal Reserve John Williams to the Wall Street Journal, according to Reuters.
Additional conclusions
“Accommodative monetary policy is helping the economy weather the storm.”
“The policy will help bring the economy back to full employment as soon as possible.”
“Fiscal policy plays an important role in building bridges between now and when a vaccine is available.”
“Fiscal policy is really the most powerful tool right now to provide income for the unemployed.”
“The emergency loan programs were very successful.”
“Emergency loan programs provided support during a time of stress and continue to be successful in providing a sense of trust.”
“Although the emergency facilities did a great job supporting the financial markets, we have seen significant improvement.”
“We could restart the loan programs if we see a significant need in the future.”
“Right now, we are not seeing any signs of tightening in financial conditions.”
Market reaction
The US Dollar Index did not show an immediate reaction to these comments and was last seen shedding 0.18% on the day at 92.33.
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