Powell Says FOMC Judged That Risks to Outlook Changed Materially

The video discusses a reduction in the federal funds rate to support the US economy amid new risks, particularly the coronavirus outbreak. It highlights the strong fundamentals of the US economy, including low unemployment and solid job gains. The spread of the virus has introduced challenges, affecting global markets and industries reliant on supply chains. In response, monetary policy has been adjusted to provide economic support. The video emphasizes the importance of health professionals in addressing the crisis and outlines the committee's commitment to monitoring developments and using tools to maintain economic stability.

What is the committee's stance on the risks to the US economic outlook?

What is the congressional mandate guiding the actions taken to support the economy?