FOMC President Jerome Powell is commenting on the response of the Federal Reserve to the coronavirus crisis before the Senate Banking Committee.
Featured statements
“Fiscal support from Congress has been at the heart of the recovery.”
“The Fed’s unemployment forecast reflects the expectation that labor force participation will increase.”
“We are monitoring, modeling supply bottlenecks; we expect the effects to be temporary.”
“Rising bond yields reflect a sense of improving economic prospects.”
“I would be concerned if it was not an orderly process or if conditions would tighten to threaten recovery.”
Market reaction
Market participants do not seem to be paying attention to these comments. At time of writing, the US Dollar Index was up 0.22% on the day at 92.53.
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