- Fed's Chair Powell: Significant uncertainty remains about timing and strength of U.S. economic recovery
Market news
16 June 2020
Fed's Chair Powell: Significant uncertainty remains about timing and strength of U.S. economic recovery
- Some recent indicators have pointed to stabilization
- Fed will keep current interest rates until the economy is on track to meet its employment and inflation goals
- Full recovery is unlikely until public is confident coronavirus has been contained
- Pandemic is hitting low-income households the hardest
- Long-term inflation expectations 'fairly stable'
- Fed is committed to using its full range of tools to support the economy
- Downturn could widen U.S. inequality if not reversed
- Direct financial help to families and business can make a critical difference and limit long-lasting economic damage
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