Federal Reserve Bank of New York

The Federal Open Market Committee lowered the fed funds rate target to between zero and ¼% in an emergency meeting on Sunday, but while analysts say the move was needed, they feel it will take more to offset the effects of COVID-19.

Career veterans call fallout from COVID-19 concerns on the municipal market worse than that of 9/11 and the 2008 financial crisis combined.

Strong data and reassuring words from a Fed official couldn’t stop market virus fears from spreading.

Little hint as to direction of future monetary policy moves.

Two Federal Reserve Bank presidents were positive about the economy in 2020, but offered a look at what worries them.

While Fed officials repeated their contention that monetary policy is appropriate and rates can be held if the outlook remains as expected, the situation with Iran could cause preemptive cuts, one noted economist suggests.

William Dudley, who used to oversee the Federal Reserve’s interaction with financial markets, said the central bank should introduce a long-discussed but never implemented tool to ensure U.S. cash markets remain calm.

The U.S. and the rest of the industrial world may have to resign themselves to an extended period of slow economic growth, subdued inflation and low interest rates. The trick will be in avoiding something even worse.

The economy should continue its moderate growth path, inflation may tick up, downside risks seem to have been put at bay by the Federal Reserve, and rates are likely to stay where they are, experts say.

Recession fears, which persisted earlier this year, have subsided and Federal Reserve Bank of Boston President Eric Rosengren does not expect a downturn unless a major shock occurs.