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26 March 2020

Fed's Chairman Powell: Fed still has policy room for more action

  • Only limit for Fed is amount of backstop it gets from Treasury
  • Effectively, every $1 of Treasury backstop can support $10 worth in Fed loans
  • Fed ready to step in wherever credit is not flowing and will continue to do it aggressively
  • Current crisis is not a typical downturn
  • When the virus is under control, confidence will return
  • Trying to assure rebound is vigorous when it comes
  • Says we could see a good rebound on other side
  • We may well be in a recession
  • The priority should be to get virus under control
  • If we get virus under control, the economy can resume
  • There is nothing fundamentally wrong with our economy
  • Economic activity expected to resume in second half of the year
  • I don't see risks around Fed's recent actions
  • We're not going to run out of ammunition when it comes to upcoming lending

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

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