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Fed Chair Jerome H. Powell testimony has been...>

FED
FED: Fed Chair Jerome H. Powell testimony has been released for Senate Banking
Committee hearing tomorrow. Highlights: 
* "We are committed to using our full range of tools to support the economy in
this challenging time even as we recognize that these actions are only a part of
a broader public-sector response," Powell writes. 
* Expect to maintain near zero interest rates "until we are confident that the
economy has weathered recent events and is on track to achieve our
maximum-employment and price-stability goals.
* "Scope and speed of this downturn are without modern precedent," Powell says,
adding that it is "significantly worse than any recession since World War II."
* Says Fed is deeply committed to transparency to the American people. "Fed will
be disclosing, on a monthly basis, names and details of participants in each
facility; amounts borrowed and interest rate charged; and overall costs,
revenues, and fees for each facility," Powell writes. 

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