[Powell Says Asset Purchases Help Lower Interest Rates but Effectiveness Remains Uncertain] Jin10 News, March 30 – Federal Reserve Chairman Powell defended the Fed's asset purchase policy on Monday while acknowledging that its actual impact on the economy remains uncertain. Speaking at Harvard University, he stated that during periods of severe market stress, the Fed's asset purchases have 'not yet truly encountered downside risks.' He said, 'Purchasing long-term assets does indeed lower interest rates and provides some support for economic activity.'