Federal
Federal Reserve Chair Jerome Powell held a virtual news conference to discuss the economy and monetary policy actions amid the coronavirus pandemic. He announced that interest rates would remain near zero for the foreseeable future in order to support economic growth. Chair Powell also said that indicators point to an economic recovery starting in the second half of 2020 and carrying through to the next couple of years.
"Hope springs eternal in the human breast" As long as he can play with the numbers and make an optimistic forecast until November third, well, that is all his boss requires. If negative interest rates are necessary, well that is plan B.
"Hope springs eternal in the human breast" As long as he can play with the numbers and make an optimistic forecast until November third, well, that is all his boss requires. If negative interest rates are necessary, well that is plan B.
Play with the numbers ? I'm sure the Chinese Virus wasn't in anyone's playbook. Powell's job is to support the economy, and he has done that in spades since the Crisis,... and just for the record, Trump isn't Powell's boss. He doesn't answer to Trump, even though Trump is the man that hired Powell. 
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