Economics
Powell Grilled by Congress on How Fed Is Helping Main Street
- Fed not planning big changes to Main St. loan program: Powell
- Says Paycheck Protection Program better fit for small loans
Jerome Powell during a House Select Subcommittee hearing in Washington, D.C., on Sept. 23.
Photographer: Stefani Reynolds/BloombergThis article is for subscribers only.
Federal Reserve Chairman Jerome Powell faced questions from U.S. lawmakers Wednesday over the central bank’s help for Americans compared with markets during the coronavirus pandemic.
“Our actions were in no way an attempt to relieve pain on Wall Street,” Powell told a hearing before the House Select Subcommittee on the Coronavirus Crisis.