Core income from net interest was the primary source of bank profit. No doubt, the COVID-19 pandemic has affected households, businesses, economies and financial systems all over the world. But there is greater uncertainty in its impact. Central banks and regulatory authorities around the world have each taken the extraordinary measures to cushion economic activity and stabilize financial systems amidst the pandemic.
Second, I believe the Federal Reserve should do a more comprehensive monetary policy report four times a year. Currently, the Chairman testifies before Congress twice a year – in  BIS central bankers’ speeches  3  fact, he is doing so today – and that testimony is accompanied by a written report.