Investing.com – The Federal Reserve chief said that the US central bank will support a number of market stimulus programs after the coronavirus strikes last spring, and the Fed’s decisions to support businesses by nearly $ 2 trillion, to support businesses, cities and states.
In testimony presented by Jerome Powell to the US Congress today, Powell said that the Fed’s unprecedented steps supported the stability of global financial markets, and contributed to the re-flow of lending activity.
US Treasury Secretary Stephen Mnuchin said on November 19 that he will not extend the lending programs that have supported markets.
It rose on the news, to climb above $ 1,800 an ounce.
As we mentioned in yesterday’s article, incentives are the keyword for rates
Futures rose more than 300 points today, after declining.
While the US retreated on the back of continued monetary stimulus, which weakened the dollar.