Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Fed Chair Jerome Powell Says the Time Will Come to Get the US Fiscal House in Order – But Not Now

by Daily Hodl Staff
April 29, 2020
in Regulators
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

In a livestream aired on Wednesday, Federal Reserve Chairman Jerome Powell confirms that the Fed will continue to buy Treasury and mortgage-backed securities as needed to preserve “smooth market functioning” and stabilize the free-falling economy amid the coronavirus pandemic.

Speaking with reporters on Wednesday following the central bank’s two-day policy meeting, Powell says that the Fed is deploying unprecedented lending powers with support from Congress and the Treasury until the economy is solidly on the road to recovery.

“We’re going to see economic data for the second quarter that’s worse than any data we’ve seen for the economy. And they are a direct consequence of the disease and the measures we’re taking to protect ourselves from it.”

In terms of fiscal concern, Powell says that long before the pandemic he has been an advocate for getting the country back on a sustainable path.

“We have not been on such a path for some time which means that the debt is growing faster than the economy. This is not the time to act on those concerns. This is the time to use the great fiscal power of the United States to do what we can to support the economy and try to get through this with as little damage to the longer-run productive capacity of the economy as possible.

The time will come again, and reasonably soon, I think, where we can think about a long-term way to get our fiscal house in order, and we absolutely need to do that. But this is not the time, in my personal view, to let that concern – which is a very serious concern – to let that get in the way of us winning this battle.”

Powell says the next phase will be the reopening of the economy. He expects it to be slow and highly unpredictable.

“It’ll start to pick up as people start to return to their normal patterns of spending. But the chances are that it won’t go right back to where we were because until [people] are confident that the virus is truly under control, then they will be, probably, somewhat reluctant to undertake certain kinds of activity.

So it may take some time — it probably will take some time for us to get back to a more normal level of unemployment and, ultimately, to maximum employment.”

l



Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/dashingstock

Submit a Press Release

Crypto Livewire – Press Releases

  • QuiverX to Integrate Chainlink Proof of Reserve To Power Transparent, Decentralized Crowdfunding
    January 15, 2021
  • The Online Family Office and High Net Worth Blockchain Conference
    December 22, 2020
  • How Blockchain Empowers Wuhan’s Digital Economy Growth – World Blockchain Conference
    December 14, 2020
  • SnapEx Adds LINK, BNB and TRX Alongside Sign-Up Bonus on a Sleek New App
    December 11, 2020
  • What’s the Role of Bots in Crypto Trading?
    December 3, 2020
Submit a Guest Post
Bitcoin
$34,408.00
$34,408.00
8.22%
Ethereum
$1,303.24
$1,303.24
8.03%
XRP
$0.289551
$0.289551
5.11%
Litecoin
$145.37
$145.37
9.33%
Bitcoin Cash
$489.42
$489.42
8.94%

Spotlight

  • Bakkt Planning To Support Additional Crypto Assets, CEO Says XRP Is Off the Table
    January 13, 2021
  • Unprecedented Crush of Wealthy Investors Are Flocking to Bitcoin, According to On-Chain Analyst Willy Woo
    January 17, 2021
  • Popular Trader Says Six Altcoins Built on Ethereum Are Ready To Explode
    January 15, 2021
  • Predictions That Bitcoin Will Hit $10 Trillion Market Cap Far Too Conservative, Says Preston Pysh
    January 19, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2020 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.