By — Christopher Rugaber, Associated Press Christopher Rugaber, Associated Press Leave a comment 0comments Share Copy URL https://www.pbs.org/newshour/economy/fed-chair-powell-will-use-our-tools-to-support-economy Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Powell says Fed will ‘use our tools’ to support economy amid coronavirus concerns Economy Feb 28, 2020 2:53 PM EDT WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell pledged Friday that the Fed will “use our tools” to support the economy, an effort to ease fears and a strong signal of a likely rate cut, perhaps at its next meeting March 17-18. The statement said the Fed will “act as appropriate to support the economy.” It came amid a week of sharp market drops that drove stocks down roughly 13% in value. Powell said the fundamentals of the U.S. economy “remain strong,” but added that “the coronavirus poses evolving risks to economic activity.” A free press is a cornerstone of a healthy democracy. Support trusted journalism and civil dialogue. Donate now By — Christopher Rugaber, Associated Press Christopher Rugaber, Associated Press
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell pledged Friday that the Fed will “use our tools” to support the economy, an effort to ease fears and a strong signal of a likely rate cut, perhaps at its next meeting March 17-18. The statement said the Fed will “act as appropriate to support the economy.” It came amid a week of sharp market drops that drove stocks down roughly 13% in value. Powell said the fundamentals of the U.S. economy “remain strong,” but added that “the coronavirus poses evolving risks to economic activity.” A free press is a cornerstone of a healthy democracy. Support trusted journalism and civil dialogue. Donate now