The Federal Reserve announced a package of policies on March 15 reminiscent of the 2008 crisis, but a former vice-chair of the central bank argues there are still tools available to further reduce the economic impacts of the coronavirus.

Donald Kohn, vice-chair of the Fed from 2006–10, argues the central bank could still “firm up” its forward guidance. “The Fed might want to be more specific about what it would be looking to see in the economy before it contemplated raising interest rates,” he