Gary Zimmerman, CEO of MaxMyInterest, discusses the recent Federal Open Market Committee meeting, the challenges of responding to the coronavirus pandemic and the issues it caused, and why interest rates may have to stay low for longer than many expect. Gary Siegel hosts.

Federal Reserve Bank of St. Louis President James Bullard said policymakers need to mitigate the ongoing risks from the coronavirus in the second half of the year and gradually reopen the U.S. economy to avoid deeper harm.

The Federal Reserve has been proactive and the secondary market could be next up for assistance.

Federal Reserve Vice Chairman Richard Clarida mixed a sobering acknowledgment of the damage inflicted on the U.S. economy by the coronavirus pandemic with an optimistic outlook for the second half of the year.

Chicago Fed president said there is no reason to raise rates "anytime soon."

The coronavirus pandemic could do lasting harm to U.S. productivity unless the nation adapts to the realities of living with COVID-19, says Federal Reserve Bank of Richmond President Thomas Barkin.

The congressional letter emphasizes that Congress wants the Fed to expand its support for the municipal bond market beyond the scope of the Municipal Liquidity Facility.

Federal Reserve Chairman Jerome Powell spoke with his Chinese counterpart on the eve of an emergency Fed interest rate cut March 3.

A range of technical issues — from month-end accounting and financing to spread widening, price volatility and the coronavirus impact on businesses and the economy — spurred a tone of relative quiet in Thursday's trade.

Thursday’s jobless claims at 3.839 million, weaker income and spending data show COVID-19 continues to dampen economic activity.

The mass transit authority cannot tap the Municipal Liquidity Facility directly, chief financial officer Robert Foran said.

The FOMC action came as GDP dropped 4.8% in the first quarter and pending home sales plunged 20.8% amid the pandemic.

The Senate Banking Committee is preparing to approve the stalled nomination of Judy Shelton to be a member of the Federal Reserve Board next week, according to two Republicans familiar with the planning.

The coronavirus is having a profound effect on the U.S. economy, but it should be able to stage a strong comeback, said former Federal Reserve Chairman Alan Greenspan.

The Federal Open Market Committee meeting that began Tuesday will be unique because rates remain at the zero lower bound and the Fed has taken many actions to ensure smooth markets since the economic shutdown to contain the coronavirus.

Groups representing dealer firms and issuers both weighed in positively Monday evening after the Fed’s afternoon decision that it will expand its Municipal Liquidity Facility in both scope and duration.

The Federal Reserve expanded the scope and duration of the Municipal Liquidity Facility, a $500 billion emergency lending program aimed at providing short-term credit to state and local governments as they endure the economic fallout from the coronavirus pandemic.

The Fed’s new program, however, will not be enough to negate the serious financial consequences that are likely to befall some local governments as they begin to feel the full effects of shutting down the economy. Both the Fed and Congress need to do more.

MSRB Chief Market Structure Officer John Bagley will join the Federal Reserve Bank of New York for eight months to lend his municipal market knowledge toward the Fed’s new Municipal Liquidity Facility.

Economists also expect the Fed's balance sheet to more than $10 trillion as policymakers look to lift the country from a recession brought on by the coronavirus pandemic.