Jerome Powell

The Federal Reserve is poised to spray trillions of dollars into the U.S. economy once a massive aid package to fight the coronavirus and its aftershocks is signed into law.

Federal Reserve Chairman Jerome Powell said the central bank will maintain its muscular efforts to support the flow of credit in the U.S. economy as Americans hunker down from the coronavirus pandemic.

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.

The Federal Open Market Committee cut the fed funds rate target 50 basis points to a range between 1% and 1.25%, it announced Tuesday.

The Federal Reserve is monitoring the COVID-19 issue and its economic effects, according to a release from the central bank, attributed to Chairman Jerome Powell, released Friday.

Federal Reserve Board Chairman Jerome Powell stuck to his message in questioning before members of the House Financial Services Committee: the economy is doing well and the Fed will stay on the sidelines unless there is a “material change” to its forecast.

Fed chair calls the illness a downside risk that arose while others are receding.

Monetary policy is accommodative and will remain so this year, but with the Fed's framework review concluding, some analysts believe it will shift from a 2% symmetric inflation target to an average inflation target.

The FOMC post-meeting statement was much like the previous one, with just a minor tweak, as the fed funds target was kept at a range of 1.50% to 1.75%.

Just when everyone thought there would be little drama at this week’s Federal Open Market Committee meeting, the coronavirus has infected the broader markets. Experts still say monetary policy will be immune for now.