Powell on whether the Fed has enough firepower: ‘We’re not going to run out of ammunition’
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.
In an interview with NBC’s “TODAY,” 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.
“When it comes to this lending, we’re not going to run out of ammunition, that doesn’t happen,” Powell told NBC’s Savannah Guthrie. “We still have policy room in other dimensions to support the economy.”
Over the past two weeks, the Fed has taken its benchmark rate to near-zero and initiated a slew of measures aimed at keeping credit flowing. The Fed also has joined the Treasury Department in programs that will provide funding to businesses of all sizes, …continued .
[Source: CNBC News]