Fed chief issues stark warning to irresponsible Congress on deficits

Federal Reserve Chairman Jerome Powell called on Congress to reduce the U.S. federal budget deficit to ensure the central bank could adequately respond to a financial crisis or recession.
Powell told a House committee Tuesday that lawmakers should curb federal spending while the economy is running strong before a downturn forces Congress or the Fed to pump stimulus spending into the U.S.
“Putting the federal budget on a sustainable path when the economy is strong would help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy during a downturn,” Powell said Tuesday before the House Financial Services Committee.
“A more sustainable federal budget could also support the economy’s growth over the long term.”

https://thehill.com/policy/finance/482617-fed-chief-issues-stark-warning-to-congress-on-deficits
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Fed chief issues stark warning to irresponsible Congress on deficits

Fed chief issues stark warning to irresponsible Congress on deficits

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