Federal Reserve
Federal Reserve Vice Chair Richard Clarida Thursday said he has not changed his mind, that there’s no upside to purposely move to negative rates. Speaking in a webinar sponsored by the New York Association for Business Economics, Clarida also underlined the points made Wednesday and previously by Fed Chair Jay Powell, that the path forward […]
The Federal Reserve remains open to taking more steps as needed to support the recovery, though negative interest rates are not on the table, New York Fed President John Williams said Thursday. Williams, answering questions during a webcast with a regional business group, said the economic outlook and the likely course of interest rates remain […]
The battle of recovery narratives – swift and sharp versus shallow and long – Wednesday saw one of the main players, the Federal Reserve chief, come down on the side of a protracted challenge to survive. Fed Chair Jay Powell chose a think-tank venue, the Peterson Institute for International Economics, to extend his view to […]
Federal Reserve Vice Chair Richard Clarida Tuesday said recovery from the economic shutdown “can commence in the second half”, while St Louis Fed President James Bullard said he sees the fourth quarter as when the virus can be put “behind us”. Both Fed policymakers stressed that there are many unknowns about the pandemic and that […]
The Federal Open Market Committee, echoed by Federal Reserve Chair Jay Powell, Wednesday signalled only firm determination to fight the damage from the economic shutdown, whatever it takes, reassuring the markets, Wall Street and Main Street it’s “not going to run out of money.” Powell, in his post-FOMC meeting news conference, acknowledged that the economic […]
Huge disruptions, pandemics and wars, can cause fundamental changes down the line that were not anticipated and which were hard to recognise at the time. Which brings us to the Federal Reserve in this time of crisis. Wednesday afternoon Chairman Jerome Powell will be explaining to the world the policy statement that is released at […]
Federal Reserve Chair Jay Powell Thursday explained more about how the central bank is remaking itself to keep intact the structure of an enfeebled economy and he joined the chorus of voices warning against returning to work too soon. “Many of the programs that we’re undertaking to support the flow of credit rely on emergency […]
The following is the Federal Reserve announcement of details of its new Main Street lending facilities and other programs, released Thursday morning: The Federal Reserve on Thursday took additional actions to provide up to $2.3 trillion in loans to support the economy. This funding will assist households and employers of all sizes and bolster the […]
Boston Federal Reserve Bank President Eric Rosengren opposed the pre-crisis rate cuts and now he is being proven right, the pandemic’s effects will be worse than otherwise because the Fed had less ammunition while some individuals and firms accumulated too much low-interest debt, he said Wednesday. “If this continues for some time and there’s some […]
The Federal Reserve is working to limit economic fallout from the pandemic and promote recovery, but unemployment is surging, and fiscal policy is “crucial,” Eric Rosengren, president of the Federal Reserve Bank of Boston, said Wednesday. “The Federal Reserve is working to limit the financial and economic distress – to take actions that help avoid […]
