Powell speech: Second coronavirus wave could force people to withdraw from economic activity
A second outbreak of the coronavirus could force governments and people to withdraw from the economic activity, Jerome Powell, Chairman of the Federal Reserve System, said on Tuesday.
"The path of the economy is highly uncertain," Powell added while testifying before House Financial Services Committee.
Additional takeaways
"The Fed will continue to look to see if there are ways to improve the Main Street Lending Program."
"The Fed is not currently assessing whether to expand its Commercial Paper Facility."
"The Fed can see itself lowering minimum loan threshold under the Main Street Lending Program in the future."
Market reaction
The US Dollar Index paid little to no mind to these remarks and was last seen losing 0.1% on a daily basis at 97.37.
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.
