Powell speech: Rise in bond yields reflects sense of improved economic outlook
|FOMC Chairman Jerome Powell is delivering his remarks on the Federal Reserve’s response to the coronavirus crisis before the Senate Banking Committee.
Key quotes
"Fiscal support from Congress has been at the heart of recovery."
"Fed's unemployment forecast reflects the expectation for labour force participation to rise."
"We are monitoring, modelling supply bottlenecks; expect effects to be temporary."
"Rise in bond yields reflects a sense of the improved economic outlook."
"Would be concerned if it were not an orderly process or if conditions tightened to threaten the recovery"
Market reaction
Market participants don't seem to be paying any mind to these comments. As of writing, the US Dollar Index was up 0.22% on the day at 92.53.
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.