On the April FOMC
https://trendmacro.com/system/files/reports/20200429TrendMacroLuskin-M3.pdf
Wednesday, April 29, 2020
Powell had nothing to say – but what he said anyway was as helpful as it could be.
Federal Reserve
US Macro
Nothing new from the FOMC – how could there have been, with the kitchen sink already thrown at the Covid-2019 crisis? The key phrase “until confident” remained in the statement. Powell was clear that the mission is to preserve the capital stock by keeping this recession brief. He usefully clarified that the $2.3 lending facilities have sufficient Treasury equity to be expanded as need be.