Economics
Powell Warns of Weak Recovery Without Enough Government Aid
- ‘Risks of overdoing it’ are smaller than too little stimulus
- Republicans, Democrats at odds over larger fiscal package
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In one of his strongest appeals to date, Federal Reserve Chair Jerome Powell warned of a weak U.S. recovery without sufficient government aid and said providing too much stimulus wouldn’t be a problem.
Powell’s remarks Tuesday were followed a few hours later by President Donald Trump telling his negotiators to halt talks. Republicans’ opposition to a larger relief package has kept discussions with Democrats at a stalemate in Congress since aid to jobless Americans and small businesses expired in July and August.