New York Fed president Williams: We will keep rates near zero until confident U.S. economy on track to meet full employment and price stability goals

Market news

21 May 2020

New York Fed president Williams: We will keep rates near zero until confident U.S. economy on track to meet full employment and price stability goals

Our economic future will be shaped by path of virus
Latest numbers do not reveal full extent of financial devastation face by American families
We don't know what the shape or timescale of the recovery will be
Fed has unwavering commitment to limit economic damage from pandemic
Fed's actions to support credit markets and economy are not at all inflationary
If anything, inflation is likely to run below trend
Goal of monetary policy is to try and minimize long-term damage to economy

NPC spokesperson: "China will firmly defend its interests if the US does things that undermine China's core interests" - Global Times

U.S. Leading Economic Index drops less than forecast in April

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