The central bank says it will establish three new lending facilities as well
Services continued to be the main driver of price gains
The economy was in strong shape before fears of the the coronavirus escalated
The spread of the coronavirus prompted the Fed to cut rates in an emergency move
But it's unclear how a rate cut would counteract the effects of the coronavirus
Incomes rose 0.6%, the biggest rise in nearly a year
Judy Shelton has been a skeptic of the need for the Fed’s independence
Trump has called Fed officials “boneheads” for not continuing to cut rates
Last month, 61.2% of American adults had jobs
The range of 1.5% to 1.75% is far below levels that have been typical during previous expansions