Steve Sosnick, Interactive Brokers’ chief strategist, discusses the impact of the US Federal Reserve’s recent meeting which has reset expectations for the economic outlook and interest rates.
Federal Reserve Chair Jerome Powell sees a long road to recovery and said the central bank would keep interest rates near zero until the end of 2022.
The Fed forecasts the US economy to shrink 6.5% this year and the unemployment rate to be 9.3%, before falling to 6.5% in 2021.
Has the optimism in the market started to dissipate?
Photo Credit: Martin Thomas via Flickr Creative Commons
