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IPFS News Link • Federal Reserve

Listen Live: Fed's Powell Holds Emergency Phone Conference Explaining Why Nothing Is F**ked Here

• Zero Hedge - Tyler Durden

Here are the highlights from Bloomberg:

*POWELL: FED'S ROLE IS GUIDED BY OUR MANDATE

*POWELL: U.S. ECONOMY WAS ON A SOLID FOOTING BEFORE VIRUS STRUCK

*POWELL: WEAKNESS ABROAD WILL WEIGH ON U.S. EXPORTS

*POWELL: POLICY MAKERS MUST DO WHAT WE CAN TO EASE HARDSHIP

*POWELL: INFLATION WILL LIKELY BE HELD DOWN THIS YEAR BY VIRUS

*POWELL: VIRUS PRESENTS SIGNIFICANT ECONOMIC CHALLENGES

*POWELL: VIRUS WILL MEAN LOWER ECONOMIC ACTIVITY FOR PERIOD

*POWELL: SEVERAL FINANCIAL MARKETS HAVE SHOWN SIGNS OF STRESS

*POWELL: WE ENCOURAGE BANKS TO TURN TO THE DISCOUNT WINDOW

*POWELL: 2Q ECONOMY IS PROBABLY GOING TO BE WEAK

*POWELL: TODAY'S FOMC'S MEETING IN LIEU OF THE TUES/WED MEETING

*POWELL SAYS FOMC WON'T HOLD ITS PLANNED MEETING THIS WEEK

*POWELL: FORWARD GUIDANCE, ASSET PURCHASES ARE OUR BASIC TOOLKIT

*POWELL: ASSET PURCHASES ARE AIMED AT RESTORING MARKET FUNCTION

*POWELL: BOND BUYING WILL FOSTER MORE ACCOMMODATIVE CONDITIONS

*POWELL: WHAT WE DID TODAY WILL BE BENEFICIAL TO FINANCIAL MKTS

*POWELL: 2Q ECONOMY IS PROBABLY GOING TO BE WEAK

*POWELL: HARD TO SAY HOW BIG EFFECTS WILL BE, HOW LONG WILL LAST

*POWELL: WE WILL CONTINUE CLOSELY MONITOR DEVELOPMENT

*POWELL: WE DON'T HAVE THE TOOLS TO REACH INDIVIDUALS, SMALL BIZ

*POWELL: DON'T SEE NEGATIVE RATES AS APPROPRIATE POLICY IN U.S.

*POWELL: FISCAL POLICY IS A WAY TO DIRECT MORE TARGETED RELIEF

*POWELL: WE DO THINK FISCAL RESPONSE IS CRITICAL

*POWELL: RESTORING MARKET FUNCTION SUPPORTS ECONOMIC ACTIVITY

*POWELL: ASSET BUYS AIMED AT SUPPORTING CREDIT AVAILABILITY

*POWELL: FED NOT SEEKING PERMISSION TO BUY OTHER SECURITIES

*POWELL: ASSET BUYS AIMED AT SUPPORTING CREDIT AVAILABILITY

*POWELL: FED IS GOING TO BUY SECURITIES AT A STRONG RATE

*POWELL: THAT LANGUAGE IS OPEN ENDED, SENDING SIGNAL TO MARKET

*POWELL: WE'RE GOING IN STRONG STARTING TOMORROW, ACROSS CURVE

*POWELL: WE'LL WILLING TO BE PATIENT ON RATES

*POWELL: WATCHING TO DETERMINE IF ECONOMY HAS WEATHERED VIRUS

*POWELL SAYS HE FEELS FINE, VERY WELL, NO REASON TO BE TESTED

*POWELL: LOT OF POWER IN OUR LIQUIDITY TOOLS, FORWARD GUIDANCE

*POWELL: WE HAVE PLENTY OF SPACE TO ADJUST OUT POLICY

*POWELL: DECIDED THURSDAY TO MOVE THE MEETING UP BY THREE DAYS

*POWELL: MAKING A FORECAST IN CURRENT CLIMATE DIDN'T SEEM USEFUL

*POWELL: U.S. ECONOMY STARTED FROM STRONG POSITION

*POWELL: 2Q WILL BE WEAKER, HARD TO SAY WHAT WILL HAPPEN IN 2H

*POWELL: NO FED FORECASTS THIS MONTH, NEXT LIKELY IN JUNE

*POWELL: FISCAL POLICY CAN REACH DIRECTLY TO AFFECTED SECTORS

*POWELL: BROADER FISCAL STIMULUS WILL DEPEND ON PATH OF ECONOMY

*POWELL: HARD TO SAY WHAT WILL HAPPEN BUT MAY BE NEED FOR THAT

*POWELL: WILL WATCH TREASURY MARKETS FOR RETURN TO NORMAL

*POWELL: WILL USE TOOLS TO SUPPORT MARKET FUNCTION, CREDIT FLOW

*POWELL: ECONOMIC DATA WILL FOLLOW THE SPREAD OF THE VIRUS

*POWELL: DURATION OF VIRUS EFFECTS WILL HINGE ON MEASURES TAKEN

*POWELL: WE HAVE PLENTY OF POWER LEFT IN OUR TOOLS, POLICY SPACE

*POWELL: THERE IS ROOM FOR US TO DO WHAT WE NEED TO DO

*POWELL: FISCAL POLICY TYPICALLY PLAYS A MAJOR ROLE IN DOWNTURNS

*POWELL: BANKS ARE HIGHLY CAPITALIZED, SYSTEM IS RESILIENT

*POWELL: WE'RE IN ONGOING CONTACT WITH MAJOR CENTRAL BANKS