Fed Chairman Jerome Powell is reflected in the sneeze guard set up between himself and members of the House Committee on Financial Services hearing on Oversight of the Treasury Department and Fed Reserve Pandemic response on June 30, 2020 in Washington, DC.
Bill O’Leary-Pool | Getty Images
Government spending from the Treasury Department and Congress along with stimulative bond purchases from the Federal Reserve are at unprecedented levels.
Deficit spending for the U.S. is over $3 trillion so far this year. While the costs are clear, the benefits are less so. Financial relief for millions of Americans furloughed or unemployed has been a humanitarian godsend.
Some argue that it was…