Fed Chair Powell Says U.S. Economy Deteriorating ‘with Alarming Speed’

Washington Post, Apr. 9, 2020–Heather Long
Federal Reserve Chair Jerome H. Powell said Thursday the U.S. economy is in an emergency and is deteriorating “with alarming speed.” His remarks came shortly after the central bank unveiled over $2 trillion in new loans to keep the economy afloat as much of the nation goes into a lockdown to fight the spread of the deadly coronavirus.