The Fed said late Wednesday it was launching a program to support money market mutual funds amid the coronavirus alarm.
How long the downturn lasts is “unknowable” because it depends on how the contagion develops, the Fed chairman said.
Investors continue to question whether central banks can do enough without help from governments.
Should the Fed cut interest rates to zero, and if so, how soon should it act?
The central bank says it will use its tools and act as appropriate to support the economy.
Fed Chairman Jerome Powell signaled the central bank could cut interest rates to support the longest-ever expansion.
Lael Brainard, a Fed governor, called for new strategies to achieve 2% inflation and fight off recessions.
Participants expected growth to continue at a moderate pace.
The ascent of working Latinas comes as the Fed is testing the limits of a tight labor market.
The Fed sees strength in the domestic economy after three rate cuts.
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