Thursday 11th June 2020
The US Fed has reiterated that they will do whatever it takes to protect the US economy, with inflation expected to remain below 2 percent through to 2022. Chair Jerome Powell painted a bleak picture and suggested that more action will be needed by Congress and, possibly, by the Fed. This comes on a day that the OECD has released forecasts for a six percent contraction in the global economy. Still, another good day for equities, with the NASDAQ reaching a new high – low interest rates for a long time won’t exactly hinder that growth, will it?