Federal Chair Powell pledged that the central bank will keep using the tools it has to fight the economic slowdown brought on by the coronavirus crisis.
Federal Reserve Chairman Jerome Powell pledged Thursday that the central bank will keep using the tools it has to fight the economic slowdown brought on by the coronavirus crisis.the central bank chief said the recent initiatives the Fed has taken will help provide capital to businesses that need it and will be especially helpful once the virus is brought under control.
Powell said the Fed is aiming at "places where credit is not being offered where it should be offered." With the U.S. economy coming to a halt in an effort to stop the deadly virus from spreading, Powell emphasized that this is not a normal downturn brought on by a crisis in a particular part of the economy.
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