“Twenty-two, 24 million people - somehow as a country we have to get them back to work,” Powell said via video link after the end of the Fed’s latest two-day policy meeting. The response has been an unparalleled level of unanimity in the outlook for monetary policy. At this point “we are not even thinking about thinking about raising rates,” Powell said. The decision to leave the policy rate unchanged on Wednesday was unanimous. The central bank also began shaping the longer-term measures it will use to keep the recovery as strong as possible.

Source: Hindustan Times June 11, 2020 02:37 UTC