BUSINESS US Fed's Powell: Will keep lending 'aggressively' to support economy

BUSINESS

US Fed's Powell: Will keep lending 'aggressively' to support economy

AFP

19:50, March 26, 2020

US Federal Reserve Chairman Jerome Powell said the US central bank will continue to "aggressively" pump liquidity into the US economy to weather the impact of the coronavirus pandemic.

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US Federal Reserve Chair Jerome Powell speaks during a news conference, Tuesday, March 3, 2020, to discuss an announcement from the Federal Open Market Committee, in Washington. (Photo: AP)

He acknowledged that the economy will see a sharp downturn but the Fed aims to ensure a recovery by providing credit, and "We will keep doing that aggressively."

"When it comes to this lending, we're not going to run out of ammunition. That doesn't happen," Powell said on NBC.

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