Fed's Powell: In the medium term there is upside risk
Comments from Powell at Senate hearing
- Lots of small businesses at risk during the winter
- Fed will use its tools until danger has passed
- Economy still has a long way to go, 10m out of work
- Economy has performed better than expected
- Fed will continue to provide very strong support
I think we're going to be hearing about those medium term upside risks a lot in 2021 and that's a big danger with the Fed pledging to keep rates at zero through 2023.