[20200327]LSB10435_美联储应对2019冠状病毒疾病经济影响的法律权威 .pdf

CRS Legal Sidebar Prepared for Members and Committees of Congress Legal SidebarLegal Sidebar The Federal Reserves Legal Authorities for Responding to the Economic Impacts of COVID-19 Updated March 27, 2020 The COVID-19 coronavirus has upended financial markets and the real economy. As the virus has spread, businesses across the country have closed their doors, major stock indexes have lost over a quarter of their value, and debt and commodity markets have experienced extreme volatility. While Congress is considering the appropriate fiscal response to these developments, the Federal Reserve (the Fed) has implemented several monetary policies and lending programs to stimulate demand and inject liquidity into the financial system. This Sidebar discusses the Feds responses to the coronavirus, the legal bases for those actions, and the central banks authority to take further steps to contain the economic fallout from the virus. A CRS summary of the Feds recent actions is also available here. The Feds Response to the Virus The spread of the coronavirus has taken a significant toll on the global economy, causing layoffs, supply-chain disruptions, and market turbulence. Many commentators c