ICE plans to extend the transition away from dollar LIBOR till mid-2023, but regulators are still encouraging banks to move ASAP.

But the Fed chair admits the current Covid-19 surge poses risks to the recovery.

"It's more important for the United States to get it right than to be first," says Chairman Powell.

Fed governor says the U.S. economy faces "considerable uncertainty" and calls for continued support from both the central bank and fiscal policymakers.

The central bank will use a diversified, internally developed index in selecting which specific U.S. corporate issues it will purchase.

U.S. economic outlook is impossible to predict as businesses slowly reopen.

Federal Reserve officials restated their pledge to hold the benchmark interest rate near zero and will keep buying bonds, judging that the coronavirus…

In the Main Street Lending Facility, eligible borrowers can have up to 10,000 employees or up to $2.5 billion in revenue.