Federal Reserve Chair Jerome Powell on Tuesday said Congress should err on the side of overdoing it with the next economic relief bill, saying a conservative approach could imperil a rebound from the Covid recession
Federal Reserve Chair Jerome Powell on Tuesday said Congress should err on the side of overdoing it with the next economic relief bill, saying a conservative approach could imperil a rebound from the coronavirus recession.
In a statement released just after Powell's appearance, Pelosi quoted the Fed chair's speech and said the moment was "long overdue" for Republicans to agree on a bill. Powell made it clear that the Fed was in no rush to abandon its recent intervention into financial markets. He defended decisions to lend to corporations and state and local governments as part of its sweeping coronavirus response.
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