BlackRock global fixed income CIO Rick Rieder says the Federal Reserve isn't going to touch the interest rates for a very long time and believes they're going to grow the size of their balance sheet. He later discusses the possible economic recovery in the second half of the year, how the American markets are reacting to coronavirus and big tech stocks.
The U.S. Federal Reserve announced Monday how much each large bank that underwent its 2020 stress tests will have to hold in additional capital.
FED'S POWELL SAYS US ECONOMY MAY NEED MORE POLICY HELP TO AVOID 'PROLONGED' RECESSION
The results mark the first time the Fed has given out custom capital requirements for each bank under its new "stress capital buffer," and takes effect on October 1.
FED OUTLOOK TURNS GLOOMIER AS VIRUS SPREADS
Goldman Sachs and Morgan Stanley were ordered to hold the most capital of the 34 firms tested, with ratios of 13.7% and 13.4% respectively.
(Reporting by Pete Schroeder Editing by Chizu Nomiyama)
This is a developing story. Please check back for updates.
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