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Powell Says Fed Will Act ‘Forcefully’ to Help U.S. Recovery

  • Fed chair says economic rebound after virus can be robust
  • Powell notes limits of Fed power, role of elected officials
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WATCH: Fed Chair Powell says the central bank is committed to acting “forcefully” to help the U.S. economy recover from the coronavirus pandemic.(Source: Bloomberg)
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Federal Chairman Jerome Powell said the U.S. central bank was committed to using all its powers “forcefully, pro-actively, and aggressively” to help the country recover from the devastating coronavirus pandemic, even as he laid out the boundaries to that authority.

“Many of the programs we are undertaking to support the flow of credit rely on emergency lending powers that are available only in very unusual circumstances,” Powell said Thursday in a speech delivered online from the central bank’s headquarters in Washington.