Bill Dudley, Columnist

The Fed Will Need Help Battling Coronavirus

The financial-crisis playbook isn’t well-suited to the problems posed by the pandemic.

March 11, 2020 at 12:00 PM UTC

Bill Dudley is a Bloomberg Opinion columnist. A former president of the Federal Reserve Bank of New York, he is a member of Coinbase Global's advisory council.

The right tool might not be in there.
Photographer: Simon Dawson/Bloomberg

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The coronavirus threatens to have wrenching effects on the U.S. economy. Growth will be hurt by supply disruptions that depress production and by falling consumer demand as discretionary activities are constrained to slow the spread of the virus.

So how will the Federal Reserve respond?