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Federal Reserve Chair Jerome Powell pauses during a news conference, Tuesday, March 3, 2020, while discussing an announcement from the Federal Open Market Committee, in Washington. In a surprise move, the Federal Reserve cut its benchmark interest rate by a sizable half-percentage point in an effort to support the economy in the face of the spreading coronavirus. Chairman Jerome Powell noted that the coronavirus "poses evolving risks to economic activity." (AP Photo/Jacquelyn Martin)

Federal Reserve Chair Jerome Powell pauses during a news conference, Tuesday, March 3, 2020, while discussing an announcement from the Federal Open Market Committee, in Washington. In a surprise move, the Federal Reserve cut its benchmark interest rate by a sizable half-percentage point in an effort to support the economy in the face of the spreading coronavirus. Chairman Jerome Powell noted that the coronavirus "poses evolving risks to economic activity." (AP Phot…

March 3, 2020

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Fed's Powell faces a puzzling crisis with no simple solution
March 3, 2020 9:01 p.m.

Fed's Powell faces a puzzling crisis with no simple solution

WASHINGTON (AP) — Jerome Powell is confronting his stiffest test yet as head of the Federal Reserve in an atmosphere vastly altered from what his predecessors faced. It makes an uncertain situation even more challenging.