Dudley Says Fiscal Policy Needs to Be Used to Fight Virus Impact

The transcript discusses the economic challenges posed by the coronavirus, emphasizing the limitations of monetary policy and the need for fiscal policy interventions. It highlights the Federal Reserve's role, the uncertainty in economic data, and the impact of market reactions, including an oil price war. The discussion also covers interest rates and a proposal to expand the Federal Reserve's toolkit.

How does the speaker characterize the economic situation in terms of cyclical versus systemic issues?

What does the speaker imply about the future of interest rates in relation to the coronavirus impact?

What proposal does Eric Rosengren make regarding the Federal Reserve's toolkit?