1 thought on “International oil prices fell 6%, and the three major stock indexes dived. What did Powell and Yellen hearing say?”
Kerry
The European stock market rose and decline, and the British FTSE 100 index fell 0.40%to 6699.19 points; the French CAC40 index fell 0.39%to 5945.30 points; the German DAX index rose 0.03%to 14662.02 points. COMEX in April Gold Futures closed down about 0.8%to $ 1725.10/ounce, the largest closing of the largest closing since March 8th, and the closing of a new low since March 12. Yellen and Powell Hearings In March 23, local time, Yellen and Powell at the House of Representatives' Financial Services Committee testified and answered questions on the new crown epidemic assistance, relief, and economic security bill. Powell said the Federal Reserve's financial measures taken in the epidemic were proven to be true and effective. Before the US economy reached a comprehensive recovery, it would continue to adhere to the currency easing policy. In addition, Powell faded a concern for inflation. He said that expected that as the epidemic fell back, consumption increased, and the inflation will increase later this year, but the inflation based on the improvement of demand and the low base of last year is not inflation. It will be too big, and it will not last long. He also said that the Fed has enough tools to deal with inflation. He also said that some asset prices are "slightly higher", but the overall financing risks are moderate and banks have sufficient capital. Yellen emphasized the results that the US economy has achieved in his speech, pointing out that fiscal assistance directly has the effect of increasing the income to the public. Yellen said in the question and answer session that the US economy is still in the pain period, and the real unemployment rate may be higher than 9%, which means that the economy needs more help. Biden "may recommend" investment in infrastructure, prevent climate risk, labor, and manufacture to improve the productivity of the US economy. In addition, Yellen said that it is expected to adjust the tax policy to help provide financial support for economic recovery plans. is worth noting that in the Q
The European stock market rose and decline, and the British FTSE 100 index fell 0.40%to 6699.19 points; the French CAC40 index fell 0.39%to 5945.30 points; the German DAX index rose 0.03%to 14662.02 points.
COMEX in April Gold Futures closed down about 0.8%to $ 1725.10/ounce, the largest closing of the largest closing since March 8th, and the closing of a new low since March 12.
Yellen and Powell Hearings
In March 23, local time, Yellen and Powell at the House of Representatives' Financial Services Committee testified and answered questions on the new crown epidemic assistance, relief, and economic security bill.
Powell said the Federal Reserve's financial measures taken in the epidemic were proven to be true and effective. Before the US economy reached a comprehensive recovery, it would continue to adhere to the currency easing policy.
In addition, Powell faded a concern for inflation. He said that expected that as the epidemic fell back, consumption increased, and the inflation will increase later this year, but the inflation based on the improvement of demand and the low base of last year is not inflation. It will be too big, and it will not last long. He also said that the Fed has enough tools to deal with inflation. He also said that some asset prices are "slightly higher", but the overall financing risks are moderate and banks have sufficient capital.
Yellen emphasized the results that the US economy has achieved in his speech, pointing out that fiscal assistance directly has the effect of increasing the income to the public.
Yellen said in the question and answer session that the US economy is still in the pain period, and the real unemployment rate may be higher than 9%, which means that the economy needs more help. Biden "may recommend" investment in infrastructure, prevent climate risk, labor, and manufacture to improve the productivity of the US economy.
In addition, Yellen said that it is expected to adjust the tax policy to help provide financial support for economic recovery plans.
is worth noting that in the Q