The US Federal Reserve building in Washington on May 21. Federal Reserve chair Jerome Powell has said the US central bank is “not even thinking about raising rates”. Photo: Xinhua The US Federal Reserve building in Washington on May 21. Federal Reserve chair Jerome Powell has said the US central bank is “not even thinking about raising rates”. Photo: Xinhua
The US Federal Reserve building in Washington on May 21. Federal Reserve chair Jerome Powell has said the US central bank is “not even thinking about raising rates”. Photo: Xinhua
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Why the US Federal Reserve is damned if it unleashes more coronavirus stimulus, and damned if it doesn’t

  • Unprecedented levels of stimulus to avert a 2008-style credit crunch have stabilised markets to the point that it is almost like the pandemic never happened
  • The strength of the recovery could make it more difficult for the Fed to justify continued measures to spark the economy

The US Federal Reserve building in Washington on May 21. Federal Reserve chair Jerome Powell has said the US central bank is “not even thinking about raising rates”. Photo: Xinhua The US Federal Reserve building in Washington on May 21. Federal Reserve chair Jerome Powell has said the US central bank is “not even thinking about raising rates”. Photo: Xinhua
The US Federal Reserve building in Washington on May 21. Federal Reserve chair Jerome Powell has said the US central bank is “not even thinking about raising rates”. Photo: Xinhua
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