Fed chief hints rate hikes when necessary

2019-12-11 22:19:32 GMT (Economies.com)
Fed chief hints rate hikes when necessary

Mario Draghi, the former president of the European Central Bank, was known for his phrase that formed around three words "whatever it takes", which was repeated in a similar statement by the Federal Reserve Chairman Jerome Powell as he said in a news conference that the bank will take measures when necessary.

 

Powell stated that the central bank could potentially expand treasury bills purchasing program if necessary, to increase liquidity in the thirsty financial system.

 

Which came after the US Treasury Department launched a program in October of bill purchases of $60 billion per month, and the Federal Reserve praised the program amid forecasts that it will continue until the end of June next year.

 

The central bank revealed repo operations in the last two months, which is the purchase of bonds and short-term debt from banks and hedge funds to increase their funding reserves.

 

Powell added that the Federal Reserve will hold interest rates unless inflation has increased significantly, and its economic outlook will not change in the near-term.

 

The US Federal Reserve decided today to hold interest rates unchanged between 1.75% and 1.50%, and hinted a pause in 2020.

 
 
 
  Symbol Last Change Chg.%
1.1090
-0.0030
0.2734%
1.3009
-0.0027
0.2087%
Tadawul
8459.80
27.24
0.32%
18.021
-0.083
0.456%
58.778
-0.410
0.694%
65.02
0.40
0.62%
1556.915
-5.780
0.370%
 
 
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