US Federal Reserve Chairman Jerome Powell speaks at a press briefing on March 3 after the surprise announcement that the central bank will cut interest rates. Powell has said the Fed will continue to “aggressively” pump liquidity into the economy to weather the impact of the coronavirus pandemic. Photo: AFP US Federal Reserve Chairman Jerome Powell speaks at a press briefing on March 3 after the surprise announcement that the central bank will cut interest rates. Powell has said the Fed will continue to “aggressively” pump liquidity into the economy to weather the impact of the coronavirus pandemic. Photo: AFP
US Federal Reserve Chairman Jerome Powell speaks at a press briefing on March 3 after the surprise announcement that the central bank will cut interest rates. Powell has said the Fed will continue to “aggressively” pump liquidity into the economy to weather the impact of the coronavirus pandemic. Photo: AFP
Neal Kimberley
Opinion

Opinion

Macroscope by Neal Kimberley

US Federal Reserve’s coronavirus recovery plan is ‘America first’, like it or not

  • The Fed will be guided solely by US domestic considerations as it charts a course for economic recovery. If that upsets other countries, so be it
  • If sustained ultra-accommodative monetary policy results in a falling US dollar, that’s a price the central bank is willing to tolerate

US Federal Reserve Chairman Jerome Powell speaks at a press briefing on March 3 after the surprise announcement that the central bank will cut interest rates. Powell has said the Fed will continue to “aggressively” pump liquidity into the economy to weather the impact of the coronavirus pandemic. Photo: AFP US Federal Reserve Chairman Jerome Powell speaks at a press briefing on March 3 after the surprise announcement that the central bank will cut interest rates. Powell has said the Fed will continue to “aggressively” pump liquidity into the economy to weather the impact of the coronavirus pandemic. Photo: AFP
US Federal Reserve Chairman Jerome Powell speaks at a press briefing on March 3 after the surprise announcement that the central bank will cut interest rates. Powell has said the Fed will continue to “aggressively” pump liquidity into the economy to weather the impact of the coronavirus pandemic. Photo: AFP
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Neal Kimberley

Neal Kimberley

UK-based Neal Kimberley has been active in the financial markets since 1985. Having worked in sales and trading in the dealing rooms of major banks in London for many years, he moved to ThomsonReuters in 2009 to provide market analysis. He has been contributing to the Post since 2015 and writes about macroeconomics from a market perspective, with a particular emphasis on currencies and interest rates.