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Friday, 29 May 2020 22:56 WIB

Federal Reserve Chairman Jerome Powell said the central bank's long-awaited program to lend to small- and medium-sized businesses is about to get off the ground. The Main Street lending facility, which will target companies with up to 15,000 employees, has been difficult to set up but is just about ready, Powell told Princeton University economist and former Fed official Alan Blinder in a webinar interview Friday. "We're days away from making our first loans in Main Street, he said. "We have three facilities that are part of it. They're meant to reach out to different parts of that...

RECENT NEWS
Fed pledges to keep rates near zero until full employment, inflation come back
Thursday, 30 April 2020 01:16 WIB | Fiskal & Moneter

The Federal Reserve painted a dour picture of current conditions and pledged Wednesday to continue its historically aggressive policy stance until it is comfortable that the U.S. economy is back on its feet. Following this weeks Federal Open Market Committee meeting, the central bank said it would maintain its current interest rate target between 0% and 0.25%. œThe ongoing public health crisis will weigh heavily on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term, the committee said in its...

Fed Staff's Worst-Case Scenario: No Major Recovery Until Next Year: Minutes
Thursday, 9 April 2020 02:08 WIB | Federal Reserve

The worst-case scenario of the staff of the Federal Reserve for the economy is no recovery until next year, according to minutes of the central bank's March 15 policy meeting released Wednesday. The staff told officials that there were two plausible scenarios for the U.S. economy grappling with the coronavirus. In one scenario, the U.S. economy would start to recover in the second half of the year. The more adverse scenario was that the economy entered a recession with no significant rebound until next year. Facing this uncertainty, Fed officials responded by slashing interest rates to...

RBA keeps Official Cash Rate steady at 0.25%, AUD/USD little changed
Tuesday, 7 April 2020 11:49 WIB | RBA

At its scheduled April monetary policy meeting held Tuesday, the Reserve Bank of Australia (RBA) maintains its official cash rate (OCR) at a record low of 0.25%, as widely expected. The RBA, at its emergency meeting on March 19 slashed the key rate by 25bps from 0.50% to 0.25% and announced a quantitative easing (QE) program to help the economy cushion the blow from the coronavirus pandemic. RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish,...

Bank of England Keeps Rates at Nearly Zero and Says Could Expand Asset Purchases if Necessary
Thursday, 26 March 2020 19:22 WIB | BOE

The Bank of England voted unanimously to keep interest rates at 0.1% and maintain its £200 billion program of buying UK government bond and sterling non-financial investment-grade corporate bond purchases. "Regarding the impact of asset purchases, gilt yields fell significantly following the previous week's special MPC meeting and the commencement of additional gilt purchase operations from 20 March. If needed, the MPC can expand asset purchases further," the central bank said. Source : Marketwatch

The Fed 'is working hard to support you now,' Powell says in rare morning-television interview
Thursday, 26 March 2020 18:47 WIB | Federal Reserve

Federal Reserve Chairman Jerome Powell in a rare morning-television appearance Thursday, told Americans the central bank "is working hard to support you now." The $2 trillion stimulus package passed by the Senate last night will provide immediate relief to workers affected by the shutdown of the economy, Powell said. The Fed's role will be to make sure the eventual recovery is as strong as possible, he added. Powell said the U.S. economy may already be in a recession, but said he expected economic activity to resume in the second half of the year. He said the central bank would continue to...

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FISCAL
Fed's Powell: 'Medical Metrics' Most Important Data for U.S. Economy Now: CBS
Monday, 18 May 2020 08:06 WIB

The most important data for the U.S. economy right now are the "medical metrics around the coronavirus pandemic, Federal Reserve Chairman Jerome Powell said Sunday night in broadcast remarks...

MONETARY
RBA cuts Official Cash Rate by 25 bps to 0.50%, AUD/USD jumps
Tuesday, 3 March 2020 10:38 WIB

At its March monetary policy meeting on Tuesday, the Reserve Bank of Australia (RBA) cut its official cash rate (OCR) by 25bps to a record low of 0.50%, as they weighed in the coronavirus outbreak...