Fed's Powell: Federal Reserve is not out of ammunition, can do more if needed

Chair of the Federal Reserve system Powell is to on US TV show "60 Minutes"

• 20 to 25% peak unemployment rate is about what to expect

On rates:

• I continue to think, and my colleagues on the Federal Open Market Committee continue to think that negative interest rates is probably not an appropriate or useful policy for us here in the United States.

On doing more:

• there's a lot more we can do. We've done what we can as we go. But I will say that we're not out of ammunition by a long shot. No, there's really no limit to what we can do with these lending programs that we have. So there's a lot more we can do to support the economy, and we're committed to doing everything we can as long as we need to.

more to come

Full transcript is here

Adam had sneak preview info posted earlier:

• Fed's Powell says economy will recover 'steadily' through 2nd half of 2020