Federal Reserve Chairman Jerome Powell arrives at his news conference following the two-day meeting of the Federal Open Market Committee (FOMC) meeting on interest rate policy in Washington, U.S., January 29, 2020. REUTERS/Yuri GripasFederal Reserve Chairman Jerome Powell arrives at his news conference following the two-day meeting of the Federal Open Market Committee (FOMC) meeting on interest rate policy in Washington, U.S., January 29, 2020. REUTERS/Yuri Gripas
Federal Reserve Chairman Jerome Powell arrives at his news conference following the two-day meeting of the Federal Open Market Committee (FOMC) meeting on interest rate policy in Washington, U.S., January 29, 2020. REUTERS/Yuri Gripas
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The Federal Reserve has already cut interest rates to near-zero amid the COVID-19 crisis, but the central bank could soon message that it is far from out of ammunition.” data-reactid=”23″>The Federal Reserve has already cut interest rates to near-zero amid the COVID-19 crisis, but the central bank could soon message that it is far from out of ammunition.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The Fed is back on schedule with an April policy-setting meeting that wraps up Wednesday afternoon. Fed Chair Jerome Powell throttled the central bank’s scheduled March meeting after making an emergency announcement on March 15 slashing interest rates to the lower bound and restarting its crisis-era asset purchases through quantitative easing.” data-reactid=”24″>The Fed is back on schedule with an April policy-setting meeting that wraps up Wednesday afternoon. Fed Chair Jerome Powell throttled the central bank’s scheduled March meeting after making an emergency announcement on March 15 slashing interest rates to the lower bound and restarting its crisis-era asset purchases through quantitative easing.

In its Federal Open Market Committee announcement on Wednesday, the Fed is unlikely to announce any major policy changes.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Instead, Powell’s remarks will provide a “status check” on the central bank’s arsenal of emergency measures taken since the coronavirus began taking grip in the U.S.” data-reactid=”26″>Instead, Powell’s remarks will provide a “status check” on the central bank’s arsenal of emergency measures taken since the coronavirus began taking grip in the U.S.

In addition to absorbing over $2 trillion in assets over the last few weeks, the Fed has also opened up nine liquidity facilities to backstop markets ranging from U.S. Treasuries to risky corporate debt.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="With first quarter GDP data already showing the U.S. economy in decline, the Fed’s policy statement could provide some color on how policymakers judge the trajectory of the economy going forward.” data-reactid=”28″>With first quarter GDP data already showing the U.S. economy in decline, the Fed’s policy statement could provide some color on how policymakers judge the trajectory of the economy going forward.

The Fed is scheduled to release its latest policy statement at 2 p.m. ET followed by Powell’s press conference at 2:30 p.m. ET.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Brian Cheung is a reporter covering the Fed, economics, and banking for Yahoo Finance. You can follow him on Twitter&nbsp;@bcheungz.” data-reactid=”30″>Brian Cheung is a reporter covering the Fed, economics, and banking for Yahoo Finance. You can follow him on Twitter @bcheungz.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Read the latest financial and business news from Yahoo Finance” data-reactid=”37″>Read the latest financial and business news from Yahoo Finance

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Follow Yahoo Finance on&nbsp;Twitter,&nbsp;Facebook,&nbsp;Instagram,&nbsp;Flipboard,&nbsp;SmartNews,&nbsp;LinkedIn,&nbsp;YouTube, and&nbsp;reddit.” data-reactid=”38″>Follow Yahoo Finance on TwitterFacebookInstagramFlipboardSmartNewsLinkedInYouTube, and reddit.