Following the decision of Federal Open Market Committee (FOMC) to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chairman of the Board of Governors of the Federal Reserve System, presents his comments on the policy outlook.
Key statements
“The argument for fiscal policy is very strong, widely understood.”
“It is necessary for households and companies to have fiscal support.”
“This peak is much larger, I think this will suppress the activity.”
“We had overestimated the effects of previous peaks in the economy, although this one is greater.”
“I don’t know what effect it will have.”
“The first quarter will show significant effects.”
.
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.
