Thursday 30th April 2020

The Fed unanimously kept interest rates on hold at near zero levels, whilst warning that the economic risk in the medium term was unprecedented. David de Garis discusses Jay Powell’s remark that the Fed’s powers are limited to monetary policy, a suggestion perhaps that the White House should be doing more on the fiscal front. In Europe the job is even bigger, whilst at home in Australia we could be amongst the first out of a lockdown. Are we already starting to see the relative strengths of post-virus economies, whenever that is?