Fed officials ensures additional action as virus outbreak dampens economic outlook

23.03.2020 - Evdokimov Roman
Fed officials ensures additional action as virus outbreak dampens economic outlook

U.S. Federal Reserve officials with experience handling crises said that the central bank was open to roll out additional action in order to soften the economic impact of the coronavirus pandemic. As of now, the Fed are aiming to provide assistance to corporate bonds as well as local and state governments.

St. Louis Federal Reserve president James Bullard said on Sunday in a phone interview that “everything is on the table”, referring to another wave of lending programs. He had also expressed concern that the outbreak may cause U.S. unemployment rate to reach over 30% in the second quarter. He furthered that the GDP could be cut down to $2.5 trillion in 3 months. 

Minneapolis Federal Reserve president Neel Kashkari told CBS that the central bank was “far from out of ammunition” with more moves in order to stave off a recession. Kashakri, a former Treasury official, had helped supervise a government’s response to the 2008 financial crisis.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from Umarkets.com or Market Solutions limited." Cookies notification: “We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Continue

Help with deposit?