Fed's Kashkari: A V-shaped recovery is off the table
|It's hard to see going back to normal without vaccine or treatment or mass testing, Minneapolis Fed President Neel Kashkari said on Thursday. "A V-shaped recovery is off the table."
Additional takeaways
"14.7% US unemployment rate understates the real level of joblessness."
"Real unemployment rate today is 24% or 25%."
"It's hard to call the bottom on the labor market; key will be whether temporary layoffs become permanent."
"Reopening the economy is not up to elected leaders; it's up to when we feel safe."
"It would be helpful if states followed standardized guidelines for reopening."
"People need fiscal assistance so they can pay rent, buy food."
Market reaction
The US Dollar Index largely ignored these comments and was last seen gaining 0.25% on the day at 100.45.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.