It was a fear that clearly played on the minds of reporters on Thursday as they questioned Federal Reserve Chair Jerome Powell. Despite protests that his job was not to advise the government, the Fed chair seemed to be doing just that. He repeatedly came back to the issue of congressional support for more spending, insisting that fiscal support was essential for a speedy recovery from the deep recession caused by the COVID-19 pandemic. Poor are hardest hit"Overall economic activity remains well below its level before the pandemic," Powell told reporters. In a Washington establishment dominated by partisan squabbling, Powell left the impression of being one of the last adults left in the room.

Source: CBC News November 06, 2020 09:00 UTC