At the same time, the Fed still needs to maintain its ultra-easy monetary policy.
He added that the US economy is at an "inflection point" with expectations that growth and hiring will pick up speed in the months ahead and noted risks that a quick reopening could lead to a continued increase in coronavirus cases.
Later in the day, market participants will pay attention to the eurozone's retail sales, which should remain very weak on a year-on-year basis. The US calendar is empty today.
In the FX, the dollar index has been flat so far on Monday, with the EURUSD pair slightly lower, the cable trading with a bullish momentum, and the USDJPY pair sliding somewhat.
Precious metals seem to be rolling over again, and it looks like the recent rally might be over unless we see some nice bullish action over the next few days.
Equity markets are consolidating today, and volatility could be lower due to the absence of macro drivers throughout the day.