"If The Fool persists in his Folly he will become wise." - William Blake
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Powell repeats Fed to use full range of tools to aid economy
With a full U.S. economic recovery out of reach until the coronavirus pandemic is brought to heel, the Federal Reserve will use its “full range of tools” to cushion households and businesses, Fed Chair Jerome Powell told lawmakers on Wednesday. The recession is hurting Americans unequally, taking the deepest toll on African Americans and other minorities, Powell said in prepared remarks for his testimony before the U.S. House of Representatives Financial Services Committee. The remarks were identical to those he submitted prior to his testimony to the Senate Banking Committee on Tuesday. “If not contained and ... (full story)
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