Minneapolis Federal Reserve Chairman Neel Kashkari said Monday that it is not concerned about the volatility observed in the US equity markets and argued that the Federal Reserve’s policy is not destabilizing financial markets, as reported Reuters.
Additional conclusions
“The real unemployment rate is around 10% if you consider those who have stopped looking for work.”
“We have a long way to go before we can fully reopen the economy.”
“Committed to doing everything possible to drive recovery.”
“It is also up to those responsible for fiscal policy to do their part.”
“The key now is for the Fed to keep its foot on the accelerator of monetary policy.”
“It’s also important that Congress continues to support people, small businesses.”
“We will all be better off if we can get back to 3.5% unemployment faster.”
“I’m not worried about spending too much; it’s like wartime.”
“We can borrow very cheaply to do what we have to do to overcome this pandemic.”
“In the long term, we need to put our fiscal house in order.”
“If a group of speculators wants to fight another group in the stock market, it is because of them.”
“It is too early to know what the new policies of US President Joe Biden will mean.”
“We are not even close to being in the right moment to even think about adjusting the size of the balance sheet.”
“There is little evidence that additional unemployment benefits prevent people from returning to work – the job market is in tension.”
“Broad-based controls have a role in alleviating the pandemic; trying to target aid too precisely means losing a lot of people.”
Market reaction
The US Dollar Index It largely ignored these comments and was last seen gaining 0.45% on the day at 91.00.
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