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Powell says Fed committed to full range of tools to support economy
2020-09-16 20:10:29 GMT
(Economies.com)
Federal Reserve Chairman Jerome Powell confirmed the bank’s ability to support the US economy to return to its growth path, adding that Fed remains committed to using full range of tools.
However, Powell said the US economy may need more fiscal and monetary support from the federal government and Congress.
Powell expected the economic recovery will depend on the ability to keep the coronavirus in check in the coming period, noting that citizens commitment to social distancing guidelines in public places help the economy to recover.
Bearing in mind that the US Federal Reserve held the interest rate between zero and 0.25%, and signaled that it plans to keep near zero at least until the end of 2023.
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1.2755
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0.5760%
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Tadawul
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8236.17
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-26.43
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0.32%
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23.144
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11.005%
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40.382
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0.191
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0.475%
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41.94
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0.00
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0.00%
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1868.625
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-46.900
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2.448%
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