"Economic activity has picked up from its depressed second-quarter level, when much of the economy was shut down to stem the spread of the virus. Many economic indicators show marked improvement," he said. "Both employment and overall economic activity, however, remain well below their pre-pandemic levels, and the path ahead continues to be highly uncertain."
The Fed's support programs have the potential to provide more than $2 trillion in various levels of funding, though some have been used only lightly. The Main Street Lending Program, geared toward small- and medium-sized businesses, has just $2 billion or so committed though it has the potential for $600 billion. A facility in which the Fed can purchase corporate bonds on the primary market hasn't been used at all.
Still, Powell said the facilities overall have unleashed about half their potential funding and will be at the ready should market stresses reemerge. "Our economy will recover fully from this difficult period," he said. "We remain committed to using our full range of tools to support the economy for as long as is needed."
No such thing as capitalism. Only government supported crony capitalism.
Print more money. Give it to failing corporations is a no no
Printer goes Brrrrrr....
Yarrakmı yapmış dolar yükssliyor
Is it to late for a trader to take advantage of this news?
With no leadership at the top, a potus who cares nothing for his people but only for himself, dying & misery will become the norm and this virus will never go away. Only when we follow scientist guidelines will we win against this Covid-19.
Tools? QE to infinity
Just imagine if a democratic administration said they would but into the economy for as long as it takes?
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