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Brian Chappatta

Jerome Powell Sends a Warning About Tea Party Redux

The Fed chair made yet another plea for fiscal aid by bringing up the pitfalls of the previous recovery. 

You’ve been warned.

You’ve been warned.

 Photographer: Andrew Harrer/Bloomberg

Federal Reserve Chair Jerome Powell sent a not-so-subtle message to Republican senators who might revert to their thrifty ways if they retain control of the chamber under a Joe Biden presidency: You’ll be to blame for a weak economic recovery.

As expected, the Federal Open Market Committee decided unanimously to leave the fed funds rate unchanged in a range of 0% to 0.25% and keep its asset purchases steady. It also came as little surprise that Powell fielded a flurry of questions about the need for additional fiscal aid, which he and his colleagues have been championing for months to no avail.