Central bank economist Yi Wen said more aggressive fiscal and monetary measures will be needed for the U.S. recovery.
. Congress has passed the $2.2 trillion CARES Act, but Fed officials higher public spending could be needed as the economic crisis lingers.whether negative interest rates would ever be used
"We don't think that's an appropriate tool here in the United States," Powell told former Fed Vice Chair and now Princeton University economist Alan Blinder. "I would say the evidence on whether it actually works is mixed.
While stopping short of going negative, the Fed has pulled its primary policy level that serves a baseline for many other rates down to near zero. It also is purchasing bonds again, though this time with more of a focus on market functioning than as an economic stimulus. Short-term Treasury yields occasionally have dipped into negative territory.
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