Fed ready to do more to curb coronavirus crisis – Bostic
The Federal Reserve “stands ready” to provide more support to the United States economy if the need arises, the central bank’s Atlanta subsidiary President Raphael Bostic stated on Friday.
“We’re doing all right in terms of our response,” Bostic said in an interview with Wall Street Journal, asserting the Fed will “continue to get information so that it understands where there are pain points and stresses so it can come up with ideas about how to relieve them.”
The Fed previously implemented a multitude of measures to help reduce the negative effects of the coronavirus pandemic, including the open-ended purchases of bonds and cutting the federal funds rate to a range of 0.00%-0.25%.
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