REUTERS: The Federal Reserve will need to roll out new efforts"in coming months" to help the economy overcome the impact of the coronavirus pandemic and live up to the U.S. central bank's new promise of stronger job growth and higher inflation, Fed Governor Lael Brainard said on Tuesday.
Bond-buying and so-called forward guidance"remain at the core of our response," Brainard said."We have a robust set of monetary policy tools and ... the statement does make a strong commitment to use all available tools." Some analysts have argued the Fed's new"framework" is incomplete without more details on what it intends to do to implement it, and Brainard suggested that needs to be addressed, particularly given the risks that high unemployment may last longer than expected and small businesses begin to fail in the absence of additional government pandemic-related support.
Brainard gave some scope of the potential gains for workers, noting that prior decisions to raise interest rates when unemployment fell, even as inflation remained low, represented"an unwarranted loss of opportunity for many Americans."
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »