FILE PHOTO: Federal Reserve Board Chairman Jerome Powell testifies before the Senate Banking Committee in a hearing on the semi-annual monetary policy report to Congress on Capitol Hill in Washington, U.S., February 12, 2020. REUTERS/Yuri GripasThe coronavirus has left a devastating human and economic toll in its wake as it has spread around the globe.
This downturn is different from those that came before it. Earlier in the post–World War II period, recessions were sometimes linked to a cycle of high inflation followed by Fed tightening. The lower inflation levels of recent decades have brought a series of long expansions, often accompanied by the buildup of imbalances over time— asset prices that reached unsupportable levels, for instance, or important sectors of the economy, such as housing, that boomed unsustainably.
At the Fed, we have also acted with unprecedented speed and force. After rapidly cutting the federal funds rate to close to zero, we took a wide array of additional measures to facilitate the flow of credit in the economy, which can be grouped into four areas. First, outright purchases of Treasuries and agency mortgage-backed securities to restore functionality in these critical markets.
Ur the problem NESARA GESARA OCT10200 LAW ABOLISHES IRS 14% flattax i want my $$ u stole w dems 9-11 connection FED IS NOT CONSTITUTIONAL WE ARE NOT CHAFFE LOOKITUP
We just have too much information. OpenAmerica already
Like Night follows day, recessions always occur when GOP is in White House. ALL of them since HOOVER ! Inept & Corrupt !! Different BS EXCUSE each time, they make it up as they go along. ABJECT UTTER CONSISTENT FAILURE THE GOP !!!!
Pandemicgate, Recessiongate, unemploymentgate massive deficitgate FAILUREGATE , Calamitydummygate .
Another mess for a Democrat to clean up.
Harder than the 2008 Recession
That’s not what Trump said! He said we’d be back stronger than ever, we’ve done more testing than the entire universe combined . He’s not lying to us, is he?!
lol ya think? did anyone need to be told we will be in recession after closing 90% of commerce down, and heads up after recession COMES DEPRESSION
😜
I'll take Powell's analysis over Cheeto anyday!! It's going to be years!
And to think we need a central banker to tell us this.
TrumpDepression
But I thought realDonaldTrump said the economy is going to come roaring back in 2021?