Coronavirus highlights limits of Fed's power.

WASHINGTON - The Federal Reserve Board emerged once again Tuesday as a potential antidote to fears about a volatile financial market - this time sparked by the coronavirus outbreak - but both the head of the central bank and analysts warned that the Fed can only do so much. Chairman Jerome Powell faced increasing pressure to act in response to stock market volatility, much like the Fed used extraordinary measures to respond to the 2008-10 financial crisis. But Fed watchers took note of Powell's comments that the virus outbreak requires a "multifaceted response" as a sign that the central bank sees limits in its ability alone to contain economic fallout. [Extracted from the article]

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