The Federal Reserve will monitor the economy from now until the next meeting for guidance on possible changes to the asset purchase program.the President of the Atlanta Fed told CNBC on Tuesday, Raphael Bostic.
Featured statements:
“We are watching to see if the weakness in retail sales translates into something deeper.”
“Some people may be starting to run out of money, reaching the limit.”
“Lawmakers across the spectrum should get help where it’s needed.”
“The vaccine will lead to a solid recovery as it enters the population, but the economy faces short-term problems“.
“The emergency programs should be kept open and available for those who need to take advantage of them. “
“Low-wage jobs are not picking up as quickly, jobs in some service sectors are still 40% to 50% below pre-COVID levels.”
“It is important to make sure that the weaker sectors come back as strong as the others.”
Market reaction
The dollar remains under pressure following these comments and the US Dollar Index (DXY) is shedding 0.37% on the day at 92.30.
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