- Cleveland Fed president Mester sees second phase of monetary policy to support recovery
Market news
29 May 2020
Cleveland Fed president Mester sees second phase of monetary policy to support recovery
- Says that China trade tension is another source of uncertainty
- No decisions taken on yield-curve control
- Yield curve control is a discussion for a future phase
- Recovery could be slow, hard to imagine it as V-shaped as consumers remain cautious
- Q2 numbers are going to be negative but we'll see activity begin to emerge in Q3 and Q4
- Sees policy support via forward guidance and asset-buying
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