The Fed will be accommodative for a long time

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The US economy is slowly recovering, but vaccines could lead to a sharp increase in activity, the president of the US said on Monday. Cleveland Fed Loretta Mester, Reuters reported.

Additional conclusions

“Some sectors of the economy are doing much better than others.”

“The Fed will be accommodative for a long time because the economy needs it.”

“It’s going to take a while for the economy to get back to maximum employment.”

Market reaction

The US Dollar Index did not show an immediate reaction to these comments and was last seen posting small daily losses at 90.98.

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