As you know, we’ve been saying for some time that we believe the Federal Reserve will continue to maintain an accommodative interest rate policy.
The fires that are rampant in California are heartbreaking and disruptive. At the very least, air quality is affected and in more extreme cases, people are losing houses, livelihoods, and security.
The Federal Reserve held a virtual press conference for the first time in history. It was imperative that it be remote given current pandemic conditions.
The United States economy is currently going through a financial shock that is unprecedented. Policymakers have implemented actions to help shave off a deeper financial downturn and we believe this is appropriate and necessary.
Federal Reserve Action