Fed Chairman Powell Townhall

Regarding the Fed's response to pandemic's drag on economy and effort fulfill dual mandate. the Fed "acted very quickly, very aggressively as soon as the pandemic really manifested itself in a serious way in early March we recollects rapidly lowered interest rates to near zero, that supported the economic activities, lower interest rates make it cheap tore borrow, giving people more money, they spend less money servicing debt and they generally support economic activity, lower interest rates, they feed into other asset prices and create financial conditions that are generally more supportive of economic activity."

"We also took very aggressive steps to stabilize the financial system which consists of capital markets, bank, lots of different institutions."