The Fed said, “will extend three months … to fix that provides economic certainty will be facilities for” programs said, “an important Bakstop.”
Fed Chairman Jerome Powell has repeatedly said that more action from both the central bank and Congress will be necessary to get the economy through this crisis.
Economic data has improved since the worst effects of lockdown, and has risen to record highs with the stock market. Nevertheless, many economists believe that this recovery is fragile.
At that point, more data is tapped into a busy week for important economic events: The Fed’s two-day monetary policy meeting gets underway on Tuesday, concluding at 2:00 ET Wednesday in its monetary policy update, a press with Jerome Powell at 2:30 pm ET after the conference.