The Fed's monthly purchases of government-backed bonds to prop up the economy "still have a use, but it’s time for us to begin to taper them."
The Fed chair confirmed officials are moving toward winding down the monthly bond-buying program but was not specific about timing.
The bank will purchase another 150 billion pounds in bonds to shore up the U.K. economy as the country enters a second lockdown.
“The euro area economy is experiencing an unprecedented contraction," the ECB said as it provided additional stimulus through emergency bond buying.
