Fed Pledges Aggressive Action as Economic Distress Worsens

The Fed says the U.S. economy has deteriorated due to the coronavirus and pledges to take aggressive action to support an eventual recovery

Federal Reserve officials have announced lending programs but, with interest rates near zero, focus could turn to other tools

Fed Chairman Jerome Powell explained the Fed’s new round of $2.3 trillion in lending programs in an online forum Thursday, but underscored the limits of the central bank’s powers to halt the economic impact of the coronavirus pandemic. Photo: Eric Baradat/AFP

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