While Federal Reserve Chair Jerome Powell has kept his cards close to the chest amid the ongoing coronavirus-led downturn, various central bank officials are offering insight on how they see an eventual economic recovery playing out.
Regional Fed presidents and vice chairs took to interviews, videoconferences, and TV appearances throughout the week as investors digested the central bank's hefty stimulus measures. Most avoided offering detailed projections, but their remarks hinted at a need for more stimulus, as well as a warning of a prolonged rebound. Some even warned of the economic danger posed by keeping relief policies in effect for too long.
The central bank has slowed its roll in recent weeks after cutting its benchmark interest rate to near zero, creating nine emergency lending facilities, and buying hundreds of billions of dollars in Treasurys and mortgage-backed securities. Powell indicated on April 29 that the bank's rates will remain low "until it is confident that the economy has weathered recent events," but strayed away from offering additional forward guidance.
Here's what six Fed officials recently said about future relief efforts, economic pain points, and a nationwide recovery.
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