The Fed and Congress will need to provide more stimulus to defend from a 'very severe' economic slowdown, Dallas central bank chief says
Dallas Federal Reserve Bank President Robert Kaplan poses at a luncheon in El Paso, Texas, U.S., October 2, 2018.Fresh monetary and fiscal aid is needed if the economy is to survive a "historic contraction," Robert Kaplan, president of the Federal Reserve Bank of Dallas, toldKaplan sees US GDP sliding as much as 30% in the second quarter alongside unemployment soaring to 20%.
The central bank has already unleashed trillions of dollars in relief through nine lending facilities, while Congress issued more than $2 trillion in aid with the CARES Act. The measures helped stabilize a plummeting financial sector, but are not enough to bridge an unprecedented recession, Kaplan said.on Friday. "There's going to be a need for stimulus in the future. That's likely to have to come from the fiscal authorities.
Kaplan sees US gross domestic product sliding as much as 30% in the second quarter and unemployment surging to 20%. Full-year output will drop by 4.5% to 5%, and the unemployment rate can end the year closer to 8% if effective policy is enacted, the president projected. The Dallas Fed president's comment follows a similar remark from Fed chief Jerome Powell at a Wednesday press briefing. He called on legislators to issue fresh fiscal aid after confirming that the Federal Reserve would maintain its near-zero interest rates.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Fed chair Powell: Economy may need 'more support' for robust recovery - Business InsiderFed Chair Jerome Powell says the economy may 'need more support' for a robust recovery to be possible
続きを読む »
Congress, not the Fed, should bail out America’s state and local governmentsMany Republicans say they do not want to reward recklessness. Their concerns are not empty
続きを読む »
BTS Keeps Us Fed With New Docu-Series TrailerThe give to us when we need them most. We shall continue to stan. BTS
続きを読む »
Fed Pledges Aggressive Action as Economic Distress WorsensThe Federal Reserve said the U.S. economy has deteriorated due to the coronavirus pandemic and pledged to take aggressive action to support an eventual recovery.
続きを読む »
Fed leaves rates near zero, vows to use 'full range' of tools to help economyFederal Reserve policymakers on Wednesday left interest rates near zero and repeated a vow to do what it takes to shore up the economy, saying the ongoing coronavirus pandemic will 'weigh heavily' on the near-term outlook and poses 'considerable risks' for the medium term. '
続きを読む »
Fed holds rates near zero — here's what that means for youFor everyday Americans with good credit, historically low interest rates on mortgages and credit cards can be a lifesaver. Riskier borrowers will have to look elsewhere for relief.
続きを読む »