Fed will continue to act ‘forcefully, proactively and aggressively,’ Powell says
The Federal Reserve will continue to use all the tools at its disposal until the U.S. economy begins to fully rebound from the harm caused by the novel coronavirus outbreak, Fed Chair Jerome Powell said on Thursday, even as he acknowledged the limits o…
Fed chief Powell sees road to recovery, warns on ‘false start’
The U.S. economy could be headed “fairly quickly” toward recovery if people stay home, government gets aid to businesses and households, and public health officials create a national plan to restart the economy, Federal Reserve Chair Jerome Powell said…
White House to announce economic coronavirus task force soon: senior administration official
The White House is expected to announce soon formation of a second coronavirus task force, this one devoted to getting the U.S. economy going again when the time is right, a senior administration official said on Thursday.
Fed rolls out $2.3 trillion to backstop ‘Main Street,’ local governments
The U.S. Federal Reserve on Thursday announced a broad, $2.3 trillion effort to bolster local governments and small and mid-sized businesses, the latest in an expanding suite of programs meant to keep the U.S. economy intact as the country battles the …
Timeline: Fed’s response – pandemic downturn vs financial crisis
The economic dislocation caused by the coronavirus crisis is unfolding with breathtaking speed.
RenCap removes line from Rosneft note saying 10 million bpd cut would rebalance markets
Renaissance Capital updated a note giving a readout on a call with Rosneft to remove a line saying the Russian energy giant believed a cut in oil output by OPEC+ of 10 million barrels per day (bpd) would be sufficient to balance markets.
OPEC+ to debate oil cuts as big as 20 million bpd: sources
OPEC and other oil producers will debate on Thursday oil cuts as big as 20 million barrels per day, equivalent to about 20% of global supplies, one OPEC source and a Russian source told Reuters.
Dollar drops after Fed launches new loan program
The dollar dropped broadly on Thursday after the Federal Reserve rolled out a $2.3 trillion effort to bolster local governments and small and mid-sized businesses in its latest move to keep the U.S. economy intact as the country battles the coronavirus…
U.S. Treasury’s Mnuchin says airline aid ‘next big thing’ to be rolled out
U.S. Treasury Secretary Steven Mnuchin said on Thursday that aid for airlines will be the “next big thing” to be rolled out after the Federal Reserve announced new lending backstops for smaller and midsize companies and municipal bonds.
Timeline: Fed’s response – pandemic downturn vs financial crisis
The economic dislocation caused by the coronavirus crisis is unfolding with breathtaking speed.
