The President of the FOMC, Jerome Powell, reiterated Tuesday that US Federal Reserves remain committed to using all of their tools to support the economy through the coronavirus crisis.
“We will continue to provide strong support,” Powell told the US Senate Banking Committee, noting that it is likely that need more fiscal support. “Inequality is a major problem in our economy, it slows it down,” Powell added.
Market reaction
The dollar continues to weaken against its rivals during Powell’s testimony. At time of writing, the US Dollar Index is down 0.35% on the day at 91.55.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
