Powell speech: Unevenness in recovery is a serious issue

FOMC Chairman Jerome Powell is delivering his remarks at the International Monetary Fund’s (IMF) seminar entitled “Debate on the Global Economy.”

Key quotes

“There is a brighter outlook for the US economy from fiscal support, vaccines.”

“Monetary policy is still supportive.”

“We want to see a string of months like the march jobs report to see progress.”

“Unevenness in recovery is a serious issue.”

“Substantial further progress means actual progress.”

“There’s a risk in the US; cases are moving back up here.”

“Any pickup in cases will slow the recovery.”

Market reaction

The greenback continues to weaken against its rivals following these comments and the US Dollar Index was last seen losing 0.4% on the day at 92.06.