Guardian Stockbrokers Key Economic News Tuesday 22 September 2020

The key points from today’s economic news, brought to you by Guardian Stockbrokers.

Jerome Powell: US economy will take time to recover completely

The US Fed Chairman, Jerome Powell, in his speech, indicated that the US economy is improving but will take time to recover completely from the coronavirus pandemic. Powell stated that many economic indicators show marked improvement, but both employment and overall economic activity remain well below their pre-pandemic levels and the path ahead continues to be highly uncertain.

US Chicago Fed national activity index fell in August

In the US, the Chicago Fed national activity index eased to a reading of 0.79 in August, compared to a revised level of 2.54 in the prior month. Market expectations were for the Chicago Fed national activity index to fall to a level of 1.95.

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