. >> reporter: thank you, brendan greeley, "financial times." has the committee discussed any other monetary policy tools in addition to rate cuts and the pacing and timing of when they might be appropriate. >> as you know, we're in the middle of a review of all our tools. if you go back a few meetings, we talked about what the toolkit is and we put that in the minutes. in the current context, no, we came to the view it was appropriate to make a change and went ahead and did that today. >> reporter: rich miller with bloomberg, thank you very much for having a press conference. can you take us through the reasoning behind the rate cut a little more in depth? was there -- some say this is a supply side shock, rate cuts are not particularly suitable for this, others say, well, the supply side shock may morph into a demand shock. i wonder if you can give us more depth around the reasoning behind the rate cut. thank you. >> sure, i would be glad to. so the virus outbreak is something that will require a multifaceted response, and that response will c

. >> brendan greeley, financial times. have you discussed any other monetary tools in addition to rate cuts and pacing and timing of when they may be appropriate? chm. powell: we are in the middle of a review of all of our tools. we have talked about what our toolkit is and put that in the minutes. but in the current context, no. what we discussed is what is appropriate and it came appropriate to make a change in did it today. thank you for having the press conference. can you take us through the reasoning behind the rate cuts a little more in depth? some economist say this is supply-side shock, rate cuts not suitable for this. others say it is more due to demand shock. can you give us more depth on the reasoning behind the rate cut? thank you. chm. powell: i would be glad to. the fire was outbreak is something that will require a multifaceted response. that response will come in the first instance from health care officials and health experts. it will also come from fiscal authorities should they discern -- determine a re

contributor, and our friend, ben white, austan goolsbee, and "financial times" economic editor, brendan greeley. austan, president trump says he wants to open the country back up by easter. watch this. >> we never did a thing like this before, but i had to do it. it's been very painful for our country. and very destabilizing for our country. and we have to go back to work, much sooner than people thought. i would love to have it open by easter, okay? >> oh, wow. okay. >> i would love to have it open by easter. i will tell you that right now. i would love to have that -- it's such an important day for other reasons, but i'll make it an important day for this, too. i would love to have the country opened up and just raring to go by easter. >> austan, what do you think? >> i mean, if you want to have it open by easter, you better have tests all across america so that we know who has the disease and those people can isolate themselves, and who doesn't. if you don't have that kind of test, it's going to be hard to see how you would be able to reopen by easter. >> i want to share what republican cong