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
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