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Australia Fed chief Powell - Future of the US economy "extraordinarily uncertain"

08:25  30 june  2020
08:25  30 june  2020 Source:   de.reuters.com

Rates on hold, outlook remains uncertain: RBA

  Rates on hold, outlook remains uncertain: RBA The Reserve Bank has kept rates on hold at a record low of 0.25 per cent, as widely anticipated. Governor Phillip Lowe released a statement saying the economic outlook remains uncertain and Australia’s economy is going through the biggest contraction since 1930, with some 800,000 jobs lost since March.AMP Capital’s Chief Economist Shane Oliver told Sky News “it was no great surprise to leave monetary policy where it is”.“What does seem surprising is they didn’t make more reference to the uncertainty in Victoria,” Mr Oliver told Sky News.

Federal Reserve Chair Jerome Powell stressed the importance of keeping the coronavirus contagion contained as ” We have entered an important new phase and have done so sooner than expected “The path forward for the economy is extraordinarily uncertain and will depend in large part on our

WASHINGTON — The Federal Reserve painted a sober picture of the economy on Friday, declaring that the financial system remains under stress because of the coronavirus pandemic and that the path back to steady growth and a Domestically, it added, “the path ahead is extraordinarily uncertain .”

U.S. Federal Reserve Chairman Jerome Powell  speaks in Washington © Reuters / KEVIN LAMARQUE U.S. Federal Reserve Chairman Jerome Powell speaks in Washington

(Reuters) - Federal Reserve Chairman Jerome Powell believes the future of the US economy is extremely difficult to predict given the corona virus crisis.

The outlook is "extraordinarily uncertain," said Powell, according to a previously released speech for a congressional hearing on Tuesday. The further development largely depends on how successfully the pandemic can be contained. Only when people feel completely safe again can a complete economic recovery be expected. Economic activity is picking up sooner than expected. While this is to be welcomed, it also harbors risks, especially for virus containment.

It is also crucial how sustainably the government supports the economy, Powell added. Congress has approved nearly $ 3 trillion in aid. But the Fed chief signaled in his statement that more funds might be needed. The Federal Reserve itself has announced that it will support the economy with all the means at its disposal.

Rösler remains Fortuna coach .
Uwe Rösler remains coach after Fortuna Dusseldorf's direct relegation. After the 0: 3 in Berlin, he already promised compensation in the coming season. © Maja Hitij Uwe Rösler. "Of course," replied sports director Uwe Klein after 0: 3 (0: 1) at Union Berlin when asked by a sky reporter whether Rösler would also be responsible on the sidelines in the second division. Rösler also said something about his future an hour after the final whistle.

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