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 Fed chief issues stark warning to irresponsible Congress on deficits

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Fed chief issues stark warning to irresponsible Congress on deficits Vide
PostSubject: Fed chief issues stark warning to irresponsible Congress on deficits   Fed chief issues stark warning to irresponsible Congress on deficits Icon_minitimeTue Feb 11, 2020 11:01 pm
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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