Fed’s Daly: Remains to be seen if more Fed action needed, will watch data
|
San Francisco Federal Reserve (Fed) Bank President Mary Daly was back on the wires, now speaking to media about the central bank’s monetary policy outlook, which seems to remain data dependent.
Key quotes
“US economy, Fed policy in a good position.”
“Well positioned to weather the COVID-19 storm.”
“It remains to be seen if more Fed action will be needed”
“Will watch the data.”
Earlier on the day, Daly said that the US economy is not out of the woods, needs more fiscal support to help heal the economy.
Market reaction
The US dollar index holds onto the recovery gains above 93.50, gathering pace for the next push higher. The spot is flat on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.