Millions of virus-idled American workers are now at home with little more than hand-wringing anxiety about where their next paycheck will come from. They are Jerome Powell’s biggest worry, and how to ease their plight with monetary policy is the Federal Reserve chairman’s largest challenge. The Fed will probably debate using instruments including stronger forward guidance or asset purchases when officials meet next month, which would add more muscle to interest rates that have already been slashed to zero. But those tools require officials to have a forecast they trust of where the economy is heading. The lack of ... (full story)