Federal Reserve President Jerome Powell and U.S. Treasury Secretary Janet Yellen Will make a statement to the House of Representatives Financial Services Commission today. And to the Senate Banking Committee tomorrow Both will show a vision of the US economy. And the importance of monetary and fiscal policies to stimulate the economy. After being affected by the coronavirus outbreak
The media published a draft statement prepared by Powell today, stating that Powell viewed: The US economy has recovered significantly. It was boosted by the fact that Congress and the Fed both took measures to stimulate the economy. But the economy is still far from the word. "Complete recovery"
“The economic recovery is faster than we initially expected. And has a strong tendency While consumer spending rose And the housing market has recovered. slotxo However, most industries affected by the COVID-19 epidemic are affected by the epidemic. And from that social spacing measure Still weak The unemployment rate remained high at 6.2%, reflecting the weaker-than-expected overall economy. In particular, participation rates in the labor market are still lower than pre-COVID-19 levels. 'A complete recovery', so the Fed must continue to take measures to support the economy. This is essential, ”Powell's draft statement said.
A draft statement prepared by Mrs. Yellen said today that Ms Yellen would express her confidence in the US economy. The economy will expand. And have full potential employment in the next year It was boosted by President Joe Biden's $ 1.9 trillion economic stimulus package.
In addition, the Ministry of Finance will distribute stimulus subsidies among the most in need. Including small businesses Which has entrepreneurs who are women and people of color
At the same time, the Ministry of Finance will reduce government regulations. Including document requirements To provide Americans in distress with access to funding to get help with home rent and mortgage payments.
The draft statement also stated that Mrs. Yellen would say The Ministry of Finance is working closely with the state government. And local governments to provide assistance to the agency of the amount of $ 3.5 billion.