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Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell addressed the Fed on Tuesday. Senate Banking, Housing and Urban Affairs Committee The efforts of their respective agencies to deal with the economic impact of the pandemic.
In a speech prepared for the testimony authorized by Congress, Powell pointed out the importance of joint assistance, saying that the Fed’s loan program “played a supporting role in the major credit markets and helped restore the flow of credit to private lenders through normal channels. “.
In addition, Yellen stated that she is “optimistic about the medium-term trajectory of our economy,” even though she, like Powell, pointed out that the Covid delta variant has slowed the recovery.
Fed Chairman Powell warns that Congressional inflationary pressures may last longer than expected
Fed officials said that even if inflation cools, their economic support will fall.
Yelondon urges Congress to raise the debt ceiling and warns Pelosi that extraordinary measures are about to expire