Fed's Evans: Businesses need grants, not just loans

It's reasonable to assume a return to economic growth in the second half of the year, Chicago Federal Reserve Bank President Charles Evans said on Tuesday.

Additional takeaways

"Social distancing, other moves to ensure safety will make growth slow, gradual."

"Baseline view of second-half growth is only a bit more likely than other more pessimistic views."

"By summer, will have a better idea of the outlook for growth, confidence, spending."

"Some businesses are likely to be able to operate safely; others won't, like travel, hospitality."

"Hopeful unemployment falls to 5% by the end of next year."

"It’s important everyone knows the Fed flat out will do everything it can to help the economy."

"Businesses need grants, not just loans."

"It’s a bold move to start reopening, worried about the risks."

Market reaction

These comments had little to no impact on the market sentiment and Wall Street's main indexes were last seen gaining between 1.65% and 1.8% on a daily basis.