Powell noted the unprecedented strength of fiscal and monetary measures already taken but stressed the need to make sure that the deepest slump since the Great Depression does not get out of control.
Fed Chairman Powell is expected to talk down market speculation about negative interest rates, even as President Trump calls them a benefit.
As Fed Recoils From NIRP Trump Says US Should "Accept" Negative Rates, "Boxing In" Powell
The U.S. is on track this week to hit 100,000 deaths from the coronavirus pandemic, prompting criticism of the Trump administration’s handling of the outbreak.
"The majority of Chinese [citizens] at the moment are still susceptible to the COVID-19 infections, because of a lack of immunity," Dr. Zhong Nanshan said.