Economics
Powell Steps Gently Onto Congress’s Turf With Spend-More Message
- Fed chair will step into partisan battle when he testifies
- Powell to appear before Senate Banking Committee Tuesday
Jerome Powell during a virtual news conference.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Jerome Powell must perform a high-stakes balancing act this week when he’s expected to urge U.S. lawmakers to back more spending for an economy reeling from the impact of the coronavirus pandemic.
The Federal Reserve chairman is scheduled to appear via video conference along with Treasury Secretary Steven Mnuchin before the Senate Banking Committee at 10:00 a.m. on Tuesday. They’re testifying on the $2.2 trillion virus rescue package passed by the Congress in March.