“The Fed will not change its dovish policy of near Zero interest rates and bond purchases of $120-B/month”— Paul Ebeling
The US economy is at an “inflection point” with expectations that growth and hiring will pick up speed in the months ahead, Fed Chairman Powell said Sunday on TV.
Noting that the VirusCasedemic in the US has not been “entirely” defeated. “There really are risks out there. And the principal one just is that we will reopen too quickly, people will too quickly return to their old practices, and we will see another spike in cases.”
Chairman Powell said the base case forecast is for “very strong” job growth in the months ahead, and that it is “in the range of possibility” for the US to see “quick progress to maximum employment, with low wage workers in the service sector seeing their jobs return with relative haste in coming months as more and more activities are considered safe to resume.”
Fed will not change its Dovish policy of near Zero interest rates and bond purchases of $120-B per month.
The Fed will keep supporting the economy until the recovery is complete, and “stick with those people and support them as they try to get back to where they were in life, which was working.”
Our objective should now been to reduce the social welfare programs to incentivize and encourage people to go back to work so that their idle time becomes a thing of the past. Remember an active mind is typically not socially disruptive!–editorial contributor Bruce WD Barren
Have a healthy week, Keep the Faith!