US Fed Chairman, Jerome Powell, is not changing his “Longer Run Assessment”, created prior to the crisis, on the US economy. He said the Federal Government has acted swiftly, and provided appropriate relief to the US Recovery. He mentioned the current Recession due to the Global Pandemic is not analogous to the Great Depression, and is not the right model for comparison purposes. Powell said prior to the virus the US economy was Financially Strong with unprecedented Low Unemployment. He said the next few months will be important on gauging the Recovery, and I agree.
The Fed will continue providing support to the economy with no intentions of raising Interest Rates through 2022.
For those still struggling longer term to find employment, the Fed will continue to assist individuals for however long it may take.
Fed Chairman, Jerome Powell said he still see a Full Recovery of the US Economy, and that the Stock Markets are not displaced with reality. He thinks with the Expansion of the Recovery Process it will build momentum over time.
Actually the Fed Chairman, Jerome Powell’s comments were better than I anticipated.
You can view the Federal Reserve PDF documents at FederalReserve.gov There is a YouTube video also of today’s meeting.
These are my thoughts and opinions. Do Not base your investment decisions off any message board posts.
Smith
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