Jerome Powell

Federal Open Market Committee members have been adamant that negative rates would be a last resort.

“We crossed a lot of red lines that had not been crossed before,” said Federal Reserve Chairman Jerome Powell.

The request for a second municipal lending facility was made in a bipartisan letter sent to the Fed last week by four senators.

Federal Reserve Chairman Jerome Powell said the central bank is prepared to use its full range of tools and leave the benchmark lending rate near zero until the economy is back on track.

The Federal Reserve chair says it may take a while, but the U.S. economy will get back where it was before the coronavirus pandemic.

The Federal Reserve issued a stark warning Friday that stock and other asset prices could suffer significant declines should the coronavirus pandemic deepen, with the commercial real estate market being among the hardest-hit industries.

Fed chair warns recovery may not be quick or easy.

The central bank will disclose information on a monthly basis about its Term Asset-Backed Securities Loan Facility and its Paycheck Protection Program Liquidity Facility.

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

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.