Federal Reserve Will ‘Act as Appropriate to Support the Economy’

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Federal Reserve Chairman Jerome Powell signaled Friday the central bank was prepared to cut interest rates if needed.

“The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity,” Mr. Powell said in a statement released Friday afternoon. “The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy.”



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