Powell Warns of Weak Recovery Without Enough Government Aid
In one of his strongest appeals to date, Federal Reserve Chair Jerome Powell warned of a weak U.S. recovery without sufficient government aid and said providing too much stimulus wouldn’t be a problem.
Powell’s remarks Tuesday came amid Republicans’ opposition to a larger relief package that’s kept talks with Democrats at a stalemate in Congress since aid to jobless Americans and small businesses expired in July and August.
“Too little support would lead to a weak recovery, creating unnecessary hardship for households and businesses,” Powell told a virtual conference hosted by the National Association for Business Economics. “By contrast, the risks of overdoing it seem, for now, to be smaller. Even if policy actions ultimately prove to be greater than needed, they will not go to waste.”
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http://www.bloomberg.com/news/articles/2020-10-06/powell-warns-of-weak-u-s-recovery-without-enough-government-aid?srnd=premium
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