Tag: Federal Reserve
Expert Who Predicted Lehman Collapse: Fed Reserve Is Carrying Out Financial 'Arson' During Banking Crisis
“I think the word ‘transitory’ has different meanings to different people.”
In a news conference after the meeting, Fed Chair Jerome Powell noted the economy’s resilience, with major industries like housing, financial services and others adapting to the coronavirus pandemic with new technologies and strategies.
“These businesses cannot wait two or three months,” Treasury Secretary Steven Mnuchin said during a hearing before the Senate Banking Committee, urging lawmakers to put as much as $300 billion into grants for struggling businesses.
She argued that canceling federal student loan debt is the “single most effective stimulus that is available through executive action.”
“It remains difficult to assess the timing and scope of the economic implications of these developments with any degree of confidence.”