Daily Market Commentary

September 21, 2020

Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin are set to be grilled by lawmakers Tuesday on the need for more stimulus to shore up the U.S. economy's recovery from the coronavirus slump.

Kaplan said he believes "strongly" that the Fed should keep its benchmark interest rate in a target range of zero to 0.25% until the economy has weathered the pandemic and is "well on track" to full employment and price stability, which could take at least two to three years.

President Donald Trump said he wants his looming Supreme Court pick confirmed before the Nov. 3 election, escalating pressure on Senate Republicans and Majority Leader.

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