fbpx
27.2 C
London
Monday, August 10, 2020

Labor market has a long way to go to recover

Following the Federal Open Market Committee’s (FOMC) decision to keep the policy rate unchanged within the prospective range of 0-0.25%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his comments on the policy outlook.

Key quotes

- Advertisement -

“Should not expect the Fed will cut back on its emergency facilities for a very long time.”

“There is clearly a risk that there will be a slowdown in the rate of growth.”

“The labor market has a long way to go to recover even with two strong months of job creation.”

- Advertisement -

About Jerome Powell (via Federalreserve.gov)

Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System’s principal monetary policymaking human anatomy. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. He was reappointed to the Board and sworn in on June 16, 2014, for a term ending January 31, 2028.

Source link

- Advertisement -

Latest news

Bitcoin Price Suddenly Drops by $500 in Seconds to Fill Futures ‘Gap’

Bitcoin (BTC) dropped several hundred dollars in seconds on Aug. 10 as $12,000 once more proved too hot to handle.  Cryptocurrency market daily snapshot Aug....

Saudi Aramco’s profit tanks 73% in the fiscal second quarter.

Saudi Aramco’s profit tanks 73% in the fiscal second quarter. The oil company to pay £57.47 billion in dividend this year. Aramco reports £4.67 billion of...

Gold Price Steadies After Friday’s Sell-Off, Silver’s Volatility Remains Elevated

Gold (XAU/USD) and Silver (XAG/USD) Analysis, Prices and...

Hacking: Networking and Security – 2 Books in 1: Hacking with Kali Linux & Networking for Beginners

Price: (as of - Details) Do you want to learn how to set up a new network for your home or business...

Related news

Bitcoin Price Suddenly Drops by $500 in Seconds to Fill Futures ‘Gap’

Bitcoin (BTC) dropped several hundred dollars in seconds on Aug. 10 as $12,000 once more proved too hot to handle.  Cryptocurrency market daily snapshot Aug....

Saudi Aramco’s profit tanks 73% in the fiscal second quarter.

Saudi Aramco’s profit tanks 73% in the fiscal second quarter. The oil company to pay £57.47 billion in dividend this year. Aramco reports £4.67 billion of...

Gold Price Steadies After Friday’s Sell-Off, Silver’s Volatility Remains Elevated

Gold (XAU/USD) and Silver (XAG/USD) Analysis, Prices and...

Hacking: Networking and Security – 2 Books in 1: Hacking with Kali Linux & Networking for Beginners

Price: (as of - Details) Do you want to learn how to set up a new network for your home or business...