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New York Fed President John Williams, in a May 21, 2020 speech, said the COVID-19 recession's trajectory depends on the path of the virus and that it is impossible to know when workers and businesses will fully return. He described the strain on New York and upstate economies.
Uncertain demand recovery weighs on energy and ag demand expectations, but the speech offers no direct new supply or demand shock for feed commodities.
newyorkfed.orgMay 21, 2020After 4,478 past macro events, US Dollar (Broad) moved a median +0.0% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
