Jerome Powell, Chairman of the Board of Governors of the Federal Reserve System, continues to testify before the Committee on Banking, Housing and Urban Affairs of the United States Senate.
Featured statements:
“The US economy has performed better than expected.”
“We have a long way to go in recovery“.
“Most of the recovery aid should go to fiscal policy.”
“A short term, there are many small businesses in danger of failing this winter”.
“At medium term, there is an upside risk“.
“There are parts of the economy that will need, could need, help to get to the other side of the pandemic.”
Market reaction
The US dollar index extended his fall and touched his lowest level since April 2018 at 91.40. At time of writing, the index is down 0.5% on the day at 91.42.
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