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- US Federal Reserve: economic outlook very uncertain
- Fed: recovery depends on controlling virus
- Stocks fall across Asia, as cases rise in South Korea
- Coronavirus – latest updates
- See all our coronavirus coverage
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Uncertainty surrounding the economic outlook remained very elevated, with the path of the economy highly dependent on the course of the virus and the public sector’s response to it
Participants generally agreed that prospects for further substantial improvement in the labor market would depend on a broad and sustained reopening of businesses. In turn, such a reopening would depend in large part on the efficacy of health measures taken to limit the spread of the virus….
Members stated that the path of the economy would depend significantly on the course of the virus. In addition, members agreed that the ongoing public health crisis would weigh heavily on economic activity, employment, and inflation in the near term and was posing considerable risks to the economic outlook over the medium term.
Global mkts turn in Risk-Off mode after Fed spoiled party. Minutes showed no enthusiasm for yield curve control & signaled tempered growth optimism. Bonds stabilized after initial sell-off w/US 10y yields at 0.66%. Dollar strengthens w/Euro at $1.1840. Gold 1945, Bitcoin $11.7k. pic.twitter.com/qhAXM9TgvB