Federal Reserve chair Jerome Powell speaks at a meeting in Denver, Colorado, the US, October 8 2019. Picture: DANIEL BRENNER/BLOOMBERG
He suggested that the purchases would be made up of Treasury bills and stressed the buying should not be seen as a return of the crisis-era quantitative easing programmes that the Fed engaged in a decade ago to boost the economy. Three-month bill yields fell on the comments, while US stocks pared losses and the dollar was higher.
But he added, “we will act as appropriate to support continued growth, a strong job market, and inflation moving back to our symmetric 2% objective”. The job market has also downshifted, even as unemployment has fallen to a half-century low of 3.5%. Nonfarm payrolls grew by an average of 157,000 per month in the third quarter, compared with gains above 200,000 earlier in the expansion.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian stocks swoon on signs of prolonged US-China standoffUS Treasury yield curve steepens on continent after US Federal Reserve chair Jerome Powell signals further interest rate cuts and the resumption of bond purchases
Source: BDliveSA - 🏆 12. / 63 Read more »