Harker Says Fed Debating Whether to Expand Its Interventions

The U.S. central bank is weighing whether to expand the scope of its interventions in financial markets being battered by concerns over the coronavirus, Philadelphia Federal Reserve Bank President Patrick Harker said.

Additional measures could include redeploying a so-called term auction facility -- a tool the Fed used during the last financial crisis to advance loans to banks -- as well as central-bank purchases of municipal debt, Harker said Wednesday in an interview with Bloomberg News.