Federal Reserve (Fed). The Fed Remains Fully Committed to Supporting the Economy

Jerome Powell and his colleagues have made multiple announcements since the start of the COVID-19 crisis outside of their scheduled meetings. They cut their key rates twice during extraordinary meetings on March 3 and 15, bringing the top of the target range down from 1.75% to 0.25%. They unveiled or set in motion an array of measures to support financial markets and credit for businesses, households, and state and municipal governments.