Boston Federal Reserve Chairman Eric Rosengren said on Friday that the U.S. economy could face a tough road in the coming months, as reported Reuters.
Key statements
“Monetary policy is quite accommodative.”
“Both the monetary and fiscal policy responses have been quite appropriate, given the severity of the economic crisis.”
“Fed lawmakers hope to keep interest rates close to zero until the 2% inflation target is reached.”
“The accumulated savings during the pandemic could subsequently lead to a significant increase in demand for activities limited by social distancing.”
“The Fed will continue to buy until there is substantially more progress in reducing unemployment and increasing inflation.”
“Without affordable child care and early childhood education, many people will not be able to participate in the job market.”
Market reaction
These comments were largely ignored by market participants and the US dollar index it was last seen losing 0.3% on the day at 90.32.
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