Can the Fed inoculate US economy against virus impact?

Washington (AFP) - The US Federal Reserve stands ready to take action to counter the risks posed by the novel coronavirus crisis, the central bank's chairman Jerome Powell said Friday, while insisting that the US economy remains in a good position.The rare unscheduled formal statement, released as concerns mount that the virus's worldwide spread could derail global growth, seems to rule out an emergency interest rate cut over the weekend, but is a sign President Donald Trump may soon get what he has been demanding: lower borrowing rates.Repeating his message of recent weeks, Powell said: "The ...