Fed's Bostic: Trajectory of current crisis “unlike anything we have seen before”

Commenting on the impact of the coronavirus outbreak on the US economy, "this is quite different than any crisis we have had in the past," Atlanta Fed President Raphael Bostic said on Monday, as reported by Reuters. "This is first and foremost a challenge in our public health system. The whole trajectory is going to potentially be quite unlike anything we have seen before."

Bostic further added that the Federal Reserve wants to make sure there is maximum support for the economy in terms of cost of capital and access to credit.

Market reaction

These comments were largely ignored by the market participants. As of writing, the US Dollar Index was up 0.9% on the day at 99.21.