Powell speech: Second coronavirus wave could force people to withdraw from economic activity

A second outbreak of the coronavirus could force governments and people to withdraw from the economic activity, Jerome Powell, Chairman of the Federal Reserve System, said on Tuesday.

"The path of the economy is highly uncertain," Powell added while testifying before House Financial Services Committee.

Additional takeaways

"The Fed will continue to look to see if there are ways to improve the Main Street Lending Program."

"The Fed is not currently assessing whether to expand its Commercial Paper Facility."

"The Fed can see itself lowering minimum loan threshold under the Main Street Lending Program in the future."

Market reaction

The US Dollar Index paid little to no mind to these remarks and was last seen losing 0.1% on a daily basis at 97.37.