Fed Chair Jerome H. Powell called for more stimulus support to speed up recovery, according to press release. Economic outlook is highly uncertain, and expansion far from complete-Powell.
- Households and unemployment likely require more fiscal support.
- Economic improvement has moderated since May and June, and recovery progressed more than expected.
- Financial conditions highly accommodative and credit is available on reasonable terms to many.
- Combined fiscal and monetary policy has aided the solid recovery of the labor market.
- Government aid to companies has warded off the bankruptcy surge.
- Due to extensive aid, financial markets are now largely back to normal.
Stocks gaining on economic recovery announcement as risk-free treasury-linked bond and Gold fall on declining risk sentiment. TLT: NASDAQ is down 0.22%, SPY is up 0.25%, DIA is up 0.37%, DXY is up 0.11%, XAUUSD is down 0.52%
