Fed's Chairman Powell Q&A: Path of economy will depend on COVID-19

Market news

9 April 2020

Fed's Chairman Powell Q&A: Path of economy will depend on COVID-19

Sees Q2 GDP to be very weak
Expects recovery in the second half of the year
Says inflation is not "first-order concern" for Fed right now
Many people need direct fiscal support
Does not believe banks need to suspend dividends

U.S. will not be part of production cut deal with Saudi Arabia and Russia - CNBC reports

Saudi Arabia and Russia have reached a deal on deep OPEC+ production cuts, - Reuters reports, citing sources

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