APRIL 29, 2020 - FOMC UPDATE
Update: 2020-04-30
Description
Jim Barnes, Senior Vice President and Director of Fixed Income at BMT Wealth Management, discusses the Federal Open Market Committee (FOMC) meeting that concluded on April 29, 2020. Although there were no changes to monetary policy, the Federal Reserve was direct in noting the economic challenges that exist due to COVID-19. During the post meeting press conference, Federal Reserve Chairman Jerome Powell made clear that monetary policy will remain accommodative for as long as necessary until the virus is under control and the U.S. economy is on a robust and solid recovery.
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