Policymakers are uncertain whether actions taken to this point will be sufficient to “restart the flow of credit” since “we have no reliable precedents for the current situation, Federal Reserve Board vice chairman Donald L. Kohn said, adding flexibility will be key going forward.

“Policymakers are operating in a highly uncertain environment, one marked by a huge amount of unquantifiable risks,” Kohn said in a speech at the College of Wooster Friday, according to prepared text released by the Fed.

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