USD reaction after FED results

[Fxproooo]

The need for accommodative policy was made clear in the Fed’s view that the virus poses considerable risks and, in Fed Chairman Jerome Powell’s comment today, the central bank is not even thinking about raising interest rates. The May jobs report was good, but the BLS jobless rate likely understates unemployment and it's not clear if the labor market hit a bottom in May, according to Powell. Nonetheless, he sees a second-half recovery that is supported by zero-interest rates. Full recovery, however, is “unlikely to occur until people feel safe.” As a result, they will keep using emergency lending powers forcefully and adjust bond-buying as needed. It needs to continue buying bonds and keep interest rates at zero because there’s a lot of “work to be done” to get 22 million to 24 million back to work, and millions may be out of work for some time.