Fed's Rosengren: Risk-taking behavior prior to COVID to delay US recovery

"More fiscal and monetary accommodation is appropriate now that a second wave of COVID-19 infections is underway in the US," Boston Federal Reserve President Eric Rosengren said on Tuesday, as reported by Reuters.

Additional takeaways

"Excessive risk-taking behavior prior to COVID-19 is likely to delay US recovery."

"Women and minority workers are disproportionately impacted by excessive risk-taking by service sector firms."

"Imbalanced human toll of COVID-19 on vulnerable workers in labor market is bad for economy and democracy."

"A potential cost of Fed's new policy is that low rates encourage households and firms to take on more leverage and risk."

"This is an important time to focus on preventing the buildup of financial imbalances."

Market reaction

The US Dollar Index largely ignored these remarks and was last seen posing 0.18% on a daily basis at 92.67.