/perspectives/media/fomc-reinforces-its-commitment-to-help-the-economy

FOMC Reinforces Its Commitment to Help the Economy

Scott Minerd, Chairman of Investments and Global CIO, analyzes on Bloomberg TV the Federal Reserve’s statement and provides an updated macroeconomic outlook.

April 29, 2020

 

Key Takeaways:

  • The Fed declines to offer technical adjustments in its statement, a clear signal that it wants to keep its policy options open.
  • Markets seem to be priced for a V-shaped recovery, which incoming data suggest is unlikely to occur.
  • Market fervor is actually the result of the flood of capital unleashed by easing measures and chasing assets.
  • The bond markets will not tolerate vague policy guidance for long, and previous tantrums may be a taste of what is to come.


Read Global CIO Outlook: Prepare for the Era of Recrimination


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