Fed’s Chair Powell to Comment on Monetary Policy and COVID-19 Response
Federal Reserve Chairperson Jerome Powell – one of the vital architects of the unprecedented effort underway to shield the U.S. economy from the coronavirus pandemic- could shed more light on the Fed’s assessment of the still-unfolding disaster in a live webcast Thursday morning.
Hosted by the Brookings Institution in Washington, Powell will give prepared comments at 10 a.m. after which participate in a virtual question and answer session to discuss the Fed’s strikes last month to slash interest rates and implement a wide array of emergency steps.
Minutes released Wednesday from the Fed’s March conferenced present the U.S. central bank’s officers encountered little disagreement over policy decisions as they launched a historic economic rescue plan. Nevertheless, delegates faced uncertainty over the risks confronting them and as they tried to be ahead of the rapidly spreading coronavirus and predict its results on the world’s largest economy.
Communications are considered a crucial Fed policy tool; however, appearances on nationally broadcast shows have been used only sparingly.
His appearance Thursday, at a expert known for a detailed focus on financial policy and economics, will be more the norm. It will be tailored, however, to the “social distancing” directives, most officials at the moment are following instead of being held before a live audience.