Bloomberg Federal Reserve Chairman Jerome Powell came close to acknowledging that the central bank may not have the firepower to fight the next recession and called on Congress to get ready to help. The current low level of interest rates “means that it would be important for fiscal policy to support the economy if it weakens,” he told the House ...

Bloomberg Malaysia’s central bank sees room to adjust monetary policy again after economic growth slowed to its weakest pace in more than a decade and the nation braces for the impact of the coronavirus on tourism and trade. Fourth quarter gross domestic product expanded 3.6% from a year ago, the lowest since the third quarter of 2009 and far worse ...

Bloomberg Three of the European Central Bank’s (ECB) top policy makers defended their monetary stimulus even as they acknowledged that the negative side effects must be watched closely. President Christine Lagarde told the European Parliament in Strasbourg that she realises subzero interest rates and bond purchases can hurt savers and lead to overvalued asset prices such as real estate, but ...