• Fed's Powell to update on economy and coronavirus crisis response

Market news

9 April 2020

Fed's Powell to update on economy and coronavirus crisis response

Reuters reports that Federal Reserve Chair Jerome Powell - one of the key architects of the unprecedented effort underway to shield the U.S. economy from the coronavirus outbreak - may shed more light on the Fed's assessment of the still-unfolding crisis in a live webcast on Thursday.

Hosted by the Brookings Institution in Washington, Powell will deliver prepared remarks at 1400 GMT and then participate in a virtual question and answer session to discuss the Fed's moves last month to slash interest rates and enact a wide array of emergency measures.

Minutes released Wednesday from the Fed's March meetings show the U.S. central bank's officials encountered little disagreement over policy choices as they launched a historic economic rescue plan. However, officials also faced uncertainty over the risks confronting them and as they tried to stay ahead of the rapidly spreading virus and anticipate its effects on the world's largest economy.

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