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.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...