Fed's Rosengren says policymakers will do what they can

Author: Adam Button | Category: Central Banks

Comments from the Boston Fed leader

Comments from the Boston Fed leader
  • Unemployment rate likely to remain a double-digit levels at year-end, likely to peak around 20%
  • Households may remain reluctant to spend or to return to work because of public health concerns
  • Fed facilities helped relieve pressure in short-term funding markets
  • New main street lending program in coming weeks won't assist everyone but will provide important bridge
  • Time now for monetary and fiscal policy to act boldly
The nod to fiscal policy is no accident, it's part of a coordinated Fed policy to nudge Congress towards spending more.

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