Powell says the economy will likely need more support from the Fed for the recovery to be ‘robust’

Federal Reserve chairman Jerome Powell said more stimulus is needed to ensure a robust economic recovery from the coronavirus crisis.

“It may well be the case that the economy will need more support from all of us if the recovery is to be a robust one,” Powell said in a virtual press conference on Wednesday following the central bank’s policy decision.

Following this week’s Federal Open Market Committee meeting, the central bank said it would maintain its current interest rate target between 0% and 0.25%. 

This is breaking news. Please check back for updates.

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.