Fed's Evans: More fiscal relief is needed


The United States is taking serious, unnecessary risks by not extending more federal aid to out-of-work households, Chicago Federal Reserve Bank President Charles Evans said on Thursday, as reported by Reuters.

Additional takeaways

"More fiscal relief needed amid large potential hole in aggregate demand as prior aid expires."

"People, businesses in minority neighbourhoods have borne unfair, outsized burden from the pandemic recession."

"Inclusive recovery difficult until we've made sufficient progress in controlling the virus."

"Seeing inequalities deepening the longer the pandemic, recession continue."

"Fed is committed to using full range of tools until confident economy on track to full employment, stable inflation."

Market reaction

These comments don't seem to be having a significant impact on the USD's performance against its rivals. As of writing, the US Dollar Index was unchanged on the day at 94.35.

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.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD drops below 1.1850 amid growing covid concerns

EUR/USD has dropped under 1.1850 as European coronavirus cases hit records. France exceeded 50K daily cases and Spain announced a state of emergency. US fiscal stimulus talks remain stuck ahead of the elections. 

EUR/USD News

GBP/USD pressured towards 1.3000 amid downbeat market mood

GBP/USD has been extending its losing streak amid a surge in COVID-19 cases in the UK and elsewhere. Investors are shrugging off reports of progress in Brexit talks. 

GBP/USD News

XAU/USD pushed and pulled in jittery market conditions

The price of gold has been testing the bearish commitments above the $1,900 psychological level following a brief spell below it, printing a low of $1,891.50.

Gold News

Bitcoin vs gold: Safe haven battle

A new idea has been floating around in Safe Haven Trading. Well, it’s not entirely new, but it’s quite controversial to say the least. For the longest time, gold has been considered to be the purest form of safe haven trading. 

Read more

WTI heavily on the back foot, but right tail remains fat

The coronavirus pandemic gets a new lease of life on the commodities market's risk barometer and at the time of writing, WTI is trading at $38.52 and has travelled from a high of $39.72 to a low of $38.31.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures