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The Fed Suggests More Support

S&P 500 Target of 3,150 And The Importance of 2,950 Pivot on Volume

The Federal Reserve chairman Jerome Powell suggested that the US will need more support to ensure a full recovery from the coronavirus. He suggest that the economy will be “robust” with said stimulus. In an effort, a monster effort, to get the US economy back on track the Fed cut interest rates to zero and has launched a short list of programs to ensure that homeowners, workers and just about every citizen has money in his pocket to carry through the next couple of months until economic activity returns to normal – or the new normal. The US economy shrank 4.8% in the first quarter, so this stimulus was of course much needed. As the Fed now says, more is on the way. When will it be enough?

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