Federal Reserve Chair Powell warns Congress that $1 trillion budget deficits are unsustainable

Federal
Reserve Board Chair Jerome H. Powell told Congress on Tuesday that now
would be a good time to reduce the federal budget deficit, which is
expected to top $1 trillion this year.“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 in
testimony to the House Financial Services Committee.

Publisher: Washington Post | Author: Heather Long

TAGS
campaign promises, deficits, economy, and federal reserve
DATE PUBLISHED
2020-02-12 (Modified: 2020-02-12)

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https://www.washingtonpost.com/business/2020/02/11/fed-chair-powell-warns-congress-that-1-trillion-budget-deficits-are-unsustainable/

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