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Powell to Address Dire Outlook Amid Bets on Negative Rates

  • Fed chair may call for additional fiscal relief from lawmakers
  • Powell may also reiterate lack of appetite for negative rates
Jerome Powell

Jerome Powell

Photographer: Andrew Harrer/Bloomberg
Updated on

Jerome Powell and his Federal Reserve colleagues are staring down the possibility of mass bankruptcies and long-lasting unemployment unless there’s a more concerted government effort to shield the U.S. economy from the impact of the coronavirus pandemic.

That’s the context in which the Fed chair will speak Wednesday at 9 a.m. during a virtual event with the Peterson Institute for International Economics in Washington, though he may be loath to give clear hints on future monetary policy, with the central bank’s next rate decision still a month out.