Fed Chair Jerome Powell is slated to say in remarks planned for delivery at a congressional hearing on Wednesday that the US Federal Reserve’s monetary policy will provide forceful support until the economic recovery is complete.
The USD came under heavy selling pressure as a result of the first reaction, and the US Dollar Index was last noted at 92.40, down 0.4 percent on the day.
“The job market is still lagging behind the pace required to begin the bond-buying taper.”
“Inflation is projected to stay high in the coming months before dropping, with predictions generally in line with the Fed’s target.”
“The balance sheets of households and businesses are relatively healthy, and fundamental financial institutions are resilient.”
“As the health crisis eases, strong employment increases are projected to continue in the coming months.”
“Household expenditure is rapidly increasing, housing demand is strong, and company investment is strong.”/n
