Economy

Fed Chair Powell calls for more help from Congress, says there’s a low risk of ‘overdoing it’

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Federal Reserve Chairman Jerome Powell called Tuesday for continued aggressive fiscal and monetary stimulus for an economic recovery that he said still has “a long way to go.”

Noting progress made in job creation, goods consumption and business formation, among other areas, Powell said that now would be the wrong time for policymakers to take their foot off the gas.

Doing so, he said, could “lead to a weak recovery, creating unnecessary hardship for households and businesses” and thwart a rebound that thus far has progressed more quickly than expected.

“By contrast, the risks of overdoing it seem, for now, to be smaller,” Powell added in remarks to the National Association for Business…



Source cnbc.com

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