A flurry of interest rate cuts by the US Federal Reserve and a host of other central banks marks the broadest shift in global monetary policy since the depths of the financial crisis in 2009, analysts at Fitch Ratings said in a report.
After rolling out trillions of dollars in support for the US economy during the coronavirus pandemic, Federal Reserve officials have begun warning of potentially lasting scars to the workforce.
Powell warns of the threat of a prolonged recession resulting from the viral outbreak and urged Congress and the White House to act further to prevent long-lasting economic damage.
The Federal Reserve meets this week amid mixed signals on the health of the US economy, with some major sectors bouncing back from the coronavirus-caused downturn and others struggling.
World stocks edged higher on Friday, but gains were capped by dwindling stimulus in the United States and concerns about the damage to the global economy from further COVID-19 infections. Hopes of a stimulus-led recovery receded after US Treasury Secretary