“Policy makers will do everything they can to support a return to full employment and stable prices,” President of the Federal Reserve Bank of Boston Eric Rosengren said on Tuesday. Rosengren further acknowledged that the unemployment rate should remain at double-digit levels by the end of the year.
Additional things to remember
“Households may remain reluctant to spend or return to work due to public health concerns.”
“It is essential that the reduction of restrictions on businesses does not lead to poorer health outcomes and higher unemployment.”
“The Fed’s facilities have helped ease the pressure on short-term funding markets.”
“Opening the Main Street loan program in the coming weeks will not help everyone, but will be an important bridge for many businesses.
The US dollar index largely ignored these comments and was last seen to drop 0.22% on the day to 99.40.