Powell speech: Economic activity expected to resume in second half of the year
|Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is making a rare TV appearance on Thursday as he speaks in an interview on NBC's Today show.
Key takeaways
"Fed tends to listen to experts, agrees with Fauci that virus will dictate timing."
"We may well be in recession."
"Priority should be to get the virus under control."
"In principle, if the virus is controlled quickly economic activity can resume."
"Sooner we get the virus under control the sooner the recovery can come."
"Economic activity expected to resume in second half of the year."
About Jerome Powell (via Federalreserve.gov)
Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. He was reappointed to the Board and sworn in on June 16, 2014, for a term ending January 31, 2028.
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.