With virus war still raging, Fed peers out of the foxhole by hpschneider
FILE PHOTO: U.S. Federal Reserve Chairman Jerome Powell speaks to reporters after the Federal Reserve cut interest rates in an emergency move designed to shield the world's largest economy from the impact of the coronavirus, in Washington, U.S., March 3, 2020. REUTERS/Kevin Lamarque
“I am looking at the public health response and how we manage that ... As long as the virus continues to spread we will need to continue to separate” and keep the economy in some state of lockdown. Against that backdrop, Fed policymakers will be hard-pressed to say much of anything new that doesn’t risk getting overrun by developments on the public health front.Several other major central banks are meeting this week under similar circumstances, their options and information reliant on the spread of the pandemic and the world’s response to it.
Even those were predicated on the pandemic subsiding in the second half of the year, an uncertain prospect at best.
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