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The Fed's Response to Covid-19

A message to the American Public from Charles Evans, President and CEO, Federal Reserve Bank of Chicago

Photo of Charles Evans

The coronavirus pandemic is causing significant hardship and disrupting economic activity across our country and around the world. I want to express my empathy, first and foremost, to those experiencing difficulties at this time. Secondly, I want you to know that as the nation moves to protect people’s health, the Federal Reserve is doing its part to support the economy and the financial system.

I want to assure you that the Chicago Fed’s mission to serve the public interest by fostering a strong economy and promoting financial stability is something we are always focused on, especially in challenging times such as these. We remain dedicated to accomplishing our public service mission.

The Federal Reserve is taking a number of aggressive policy actions to promote the flow of credit to businesses and households and to support the smooth functioning of financial markets. For more information, please see these resources.

Here in the Seventh District, essential staff are onsite to ensure continuity of mission-critical operations while most of our employees in Chicago, Detroit and Des Moines have been directed to work from home. The safety and well-being of our workforce and the communities we serve are our top priorities and we have taken these measures to help protect public health.

Social distancing and staying home as much as possible to reduce the spread is crucial. At present, the most impactful action for maintaining public health and the safety of healthcare workers is social distancing to lower your risk and flatten the curve of the spread of this disease.

Resiliency is an ongoing focus for the Federal Reserve System, and we routinely prepare for contingency situations to ensure the continuity of our operations. The Fed will continue to carry out its mission to promote long-run sustainable growth for Americans by using all of our tools to help the country manage through this national emergency.

This public health crisis will have profound effects throughout the nation. My staff and I are working diligently to understand this complex picture. We are in contact with financial and business leaders as well as community organizations and non-profit groups throughout the Seventh District so that we can understand and assess the economic implications of these unprecedented events.

Please take care of yourself, your families and your communities as we manage through this global challenge.

Charles Evans
Federal Reserve Bank of Chicago
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