Fed Chairman is confident that the economy will recover in the second half of the year
Fed Chairman Powellham said in an interview with the National Broadcasting Corporation (NBC) that the Bureau will continue to use existing tools to cope with the economic slowdown caused by the new coronavirus epidemic. In addition, it believes that although the local economy may fall into recession, the current situation is not a typical economic downturn, and the Fed is ready to enter any field that lacks liquidity. As for the economic outlook, it believes that there are no fundamental problems, so once the epidemic is controlled and business confidence is restored, the economy will rebound well. It is also expected that the economy may recover in the second half of the year, but the specific situation depends on the development of the epidemic situation and the effects of prevention and control.
The initial jobless claims in the United States rose to 3 million, making gold increase
On Thursday, the number of unemployed people in the United States surged to a record high of more than 3 million at the beginning of last week. The dollar hit its largest single-day decline in 11 years, pushing gold to a two-week high. More institutions have further lowered the US economic growth expectations. At the same time, the Fed ’s balance sheet soared to more than 5 trillion US dollars for the first time this week. It is expected that the Fed ’s balance sheet will be further expanded, which may further weaken the attractiveness of the US dollar. However, as countries realize the severe impact of the epidemic on the economy, they have issued a series of stimulus measures to limit the rise of gold for a short time.
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