With the surge in coronavirus cases threatening the U.S. recovery, Federal Reserve Vice Chairman Richard Clarida had a message on Tuesday: the U.S. central bank is not going to sit idly, even if a double dip recession is not the base case scenario.
“We have a lot of accommodation in place; there’s more that we can do, there’s more that we will do,” Clarida told CNN International. And while evidence of an economic rebound in May and June was “very welcome,” the Fed is following the course of the virus closely as it will determine the course of the economy, he said.
There is “no limit” on how many bonds the U.S. central bank can buy, he said, adding the Fed could ease policy further with forward guidance and keep its lending backstops in place as long as needed.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US economy recovery is 'bumpier' than expected: Atlanta Fed chief - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Fed Up Husband Locks Wife Out of Office Because She Won't Stop 'Trying to Seduce' HimAs one husband tried to study for the BAR exam, his wife won't stop sneaking into his office for some 'fun time.' However, others think he has some red flags to address.
Read more »
Fed policymakers see economy plateauing, risks aheadThe U.S. economy faces stiff headwinds in staging a strong recovery as a surge in coronavirus cases without a vaccine in sight and few treatment options will likely limit consumer spending and the labor market, U.S. Federal Reserve policymakers said on Tuesday.
Read more »
A veteran strategist warned that the Fed is driving stocks into 'the mother of all melt ups,' and says the market is starting to 'look like 1999 all over again' | Markets InsiderA veteran strategist warned that the Fed is driving stocks into 'the mother of all melt ups,' and says the market is starting to 'look like 1999 all over again'
Read more »