DowMore than 100 points jumped today in response to the meeting results.Federal Reserve Bank (Fed) As well as the progress of the issueEconomic stimulus measuresUnited States
As of 9:40 p.m. Thai time, the Dow Jones Industrial Average was 30,319.70 points, positive 165.16 points or 0.55%.
The Fed unanimously maintained short-term interest rates at 0.00-0.25% at yesterday’s meeting. The Fed said it would continue to use every tool to support its economic recovery.
In addition, the Fed said it would continue to buy bonds following the quantitative easing (QE) total of $ 1.2 billion a month. The Fed will buy US government bonds in the amount of 80 billion dollars a month. And bought $ 40 billion / month of mortgage-backed mortgage-backed debt securities (MBS). Until the Fed’s goal of hiring its full potential And stabilize prices
The market was also boosted by the Fed’s better view of the US economy and jobs.
The Fed expects that The US economy will shrink only 2.4 percent this year from the previously projected 3.7 percent contraction before the 4.2 percent expansion in 2021, from the previously expected 4 percent expansion and 3.2 percent. In 2022 from the original 3% expansion
Senate Majority Leader Mitch McConnell said talks between Congress leaders have made progress in issuing economic stimulus measures to heal people and businesses affected by the economic crisis. The coronavirus outbreak Including provisional budget legislation to avoid government shutdowns due to budget shortages (shutdown)
“We have made significant progress. And I am convinced that we will be able to reach an agreement very soon, ”said McConnell.
Republican members and Democrats have agreed to split the $ 9.08 billion stimulus package into two bills to increase the chances of it being approved by Congress. The first issue will have $ 7.48 billion to cure the unemployed and small businesses affected by COVID-19. Another issue will have $ 1.60 billion to provide assistance to states.
If Congress can’t reach an agreement It will cause government agencies to face a shutdown on Dec. 19 and unemployed Americans will not receive compensation from unemployment benefits on Dec. 26.
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