Federal Reserve Likely To Pledge Support For Economy

WASHINGTON (AP) – With the U.S. economy gripped by its worst crisis since the 1930s, Federal Reserve policymakers are expected to offer sweeping assurances Wednesday that they will act as needed to help prevent the damage from growing even worse. Yet the Fed is unlikely to unveil any new emergency programs. Fed officials have already taken a range of extraordinary actions that have propelled them into new corners of the economy and elevated their bond-buying to new heights. Chairman Jerome Powell will hold his usual news conference – this time virtually, rather than on site – after the Fed issues its latest policy statement.