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The US Treasury Secretary and the Chairman of the Federal Reserve Board believe that the US economy rebounds in the third quarter, The Governor of the Bank of England believes that the UK's economic recovery is considerable

The US Treasury Secretary and the Chairman of the Federal Reserve Board believe that the US economy rebounds in the third quarter
On the first day of the hearing of the House Financial Services Committee, US Treasury Secretary Mnuchin and Fed Chairman Powell also spoke about the latest US economic situation. They mainly talk about how to help companies tide over difficulties during the epidemic, especially small businesses, because they are still quite vulnerable at the moment. However, both Mnuchin and Powell believe that the U.S. economy has recovered from the recession caused by the epidemic and expect the U.S. economy to rebound significantly in the third quarter. However, the economic outlook affected by the epidemic is still uncertain.

The Governor of the Bank of England believes that the UK's economic recovery is considerable
The Bank of England said in a statement after discussing interest rates last week that it is considering how to effectively implement a negative interest rate policy when necessary in the future. However, Governor Bailey (Andrew Bailey) said yesterday that the central bank’s recent policy statement did not imply that negative interest rates would be inevitable, and market participants should not over-interpret it. The recovery of the UK economy is quite rapid and impressive. The recovery in the third quarter was slightly higher than the Bank of England's August expectations. However, the increase in the number of new crown cases in the UK has exacerbated the downside risks in the latest forecast of the UK economy.

 

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