# The Economy in the Time of Coronavirus - FEDERAL RESERVE BANK of NEW YORK

> 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.

- Date: 2020-05-21 · published 2020-05-21T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/53035-the-economy-in-the-time-of-coronavirus-federal-reserve-bank-of-new-york
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Uncertain demand recovery weighs on energy and ag demand expectations, but the speech offers no direct new supply or demand shock for feed commodities.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-03-30 | [The Importance of Financial Conditions in the Conduct of Monetary Policy - FEDERAL RESERVE BANK of NEW YORK](https://feedsoft.ai/events/72194-the-importance-of-financial-conditions-in-the-conduct-of-monetary-policy.md) | +0.2% | +0.2% |
| DXY | 2020-03-16 | [Federal Reserve cuts rates to zero to support the economy during the coronavirus pandemic \| CNN Business](https://feedsoft.ai/events/54045-federal-reserve-cuts-rates-to-zero-to-support-the-economy-during-the.md) | +3.7% | +1.4% |
| DXY | 2020-05-14 | [The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the First Quarter - FEDERAL RESERVE BANK of NEW YORK](https://feedsoft.ai/events/53331-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the.md) | -1.2% | -3.5% |
| DXY | 2024-02-08 | [The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the Fourth Quarter - FEDERAL RESERVE BANK of NEW YORK](https://feedsoft.ai/events/31865-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the.md) | +0.4% | -0.6% |
| DXY | 2021-02-11 | [The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the Fourth Quarter - FEDERAL RESERVE BANK of NEW YORK](https://feedsoft.ai/events/48816-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the.md) | +0.5% | +1.2% |

## Sources

- newyorkfed.org: https://www.newyorkfed.org/newsevents/speeches/2020/wil200521

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.