Fed's Evans: More fiscal relief is needed

Eren Sengezer FXStreet

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.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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