Tag Archives: Federal Reserve

President of the Federal Reserve Bank of Cleveland, Loretta Mester, said on Wednesday that the Fed’s new approach should help the economy against the COVID-19 crisis. “While monetary policy that leads to a stable macroeconomy encourages financial stability, it is also possible that in an environment with low neutral rates, …

The President of the Federal Reserve Bank of Dallas, Robert Kaplan, said on Wednesday that he expects the United States economy will shrink by about 2.5% in 2020, and then grow by 3.5% in 2021. Kaplan expects the pandemic will continue to impact daily life well into next year, noting …

The President of the Federal Reserve Bank of Chicago, Charles Evans, said on Tuesday that a new wave of COVID-19 might not affect the United States economy as previously estimated. Evans expects unemployment rate in the US will reach 5.5% by the end of 2021, Reuters reported. “I sort of …

The United States Federal Reserve Vice Chair Randal Quarles said on Tuesday that the non-banking financial system is significantly more fragile, as shown by the impact of the COVID-19 crisis. “The interconnectedness of our financial system means that it is not enough to understand the vulnerabilities arising from the banking …

The Vice Chair of the United States Federal Reserve, Richard Clarida, said on Monday that the US economy is recovering from the COVID-19 crisis but would need more time to return to its levels prior to the pandemic. “While recovery since the spring collapse in economic activity has been robust, …

The United States Federal Reserve Chair Jerome Powell said on Monday that it is more important for the US to get it a digital currency right than to just be first in the field. “We do think it’s more important to get it right than to be first and getting …

President of the Federal Reserve Bank of Richmond, Thomas Barkin, said on Thursday that spending could increase due to higher confidence in the economy, but that it would take longer for the labor market to recover, Reuters reported. “You’ve got a lot of companies that have chosen, even though they’re …

President of the Federal Reserve Bank of San Francisco, Mary Daly, said on Thursday that in order for the monetary policy objective of achieving economic recovery, extra stimulus by the government is needed, Reuters reported. “These two things need to come together or else we will have an incomplete solution,”

The increase in the number of new Coronavirus (COVID-19) cases in the United States led to more uncertainty to the economic outlook, according to the President of the Federal Reserve Bank of Richmond, Thomas Barkin. “An elevated case rate raises economic uncertainty and that affects businesses’ willingness to hire or …

The United States Federal Reserve is set to maintain monetary easing after 2023 to realize the inflation target, even when it begins raising rates, President of the Federal Reserve Bank of Chicago, Charles Evans, said. “We are not going to follow a strict numerical formula to determine the time of …