Rosengren comments in virtual Q&A session
- Still seeing areas of financial fragility
- money market funds failed again in the Covid 19 crisis
- money market situation is quite disturbing
- prime money market funds where the problem
- need to be focus on reforming money fund rules
- we have seen many Banks tighten lending standards significantly
- even if virus is contained relatively quickly, a great number of firms are going to have difficulty surviving
Meanwhile US stocks continue the decline:
- NASDAQ index is now down -272 points or -2.33%
- S&P index is down 32 points or -0.92%
- The Dow industrial average moved back toward unchanged levels but currently trades up 25 points or 0.08%
