He mentioned the financial system stands a very good probability of bouncing again extra shortly than within the 1930s. “When the Despair, effecti
He mentioned the financial system stands a very good probability of bouncing again extra shortly than within the 1930s.
“When the Despair, effectively, when the crash occurred and all that, the monetary system actually failed,” Powell mentioned. “Right here, our monetary system is robust.”
However he took the chance to once more warn that Congress might want to spend extra to stop long-lasting injury, even after U.S. lawmakers have shelled out trillions of {dollars} for American companies and customers.
Crucial coverage goals must be to “preserve employees of their properties, preserve them paying their payments,” he mentioned. “Preserve households solvent in order that when this comes, we come out the opposite finish of this, we’re able to have a robust restoration.”