Federal Reserve To Continue QE and Use Powers Forcefully. Aggressively and Proactively

#24016
Helmholtz Watson
Participant

Fed’s Powell comments in prepared testimony

Economy has entered important new phase sooner than expected
Recent economic data offer some positive signs but output and employment far below pre-pandemic levels
Path forward extraordinarily uncertain, hinges on virus
Outlook also depends on relief provided by government to support recovery as long as needed
TALF has extended $252m loans so far
Repeats pledge to use all of Fed’s tools
Full recovery unlikely until people confident it’s safe