The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • 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 Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • 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 Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
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.

[the_ad id="93550"]

“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.”

[the_ad id="95413"]

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

Industry Announcements

  • Narwhal Finance Secures $1 Million in Seed Funding Led by Animoca Ventures
    March 24, 2023
  • Sports Prediction App Pooky Launches Full Version of Its Play-and-Earn Game
    March 23, 2023
  • StormGain Launches StormGain DEX for User-Friendly Decentralized Crypto Trading
    March 23, 2023
  • KyberSwap Announces First-Ever ARB Token Liquidity Pools, Liquidity Mining and Trading Campaigns on Arbitrum
    March 22, 2023
  • Metacade Presale Hits Final Stage Before Listings, Raising Over $500,000 in Under 24 Hours
    March 22, 2023
  • Yesports Launches the Largest Esports Marketplace for Gaming Expansion Into Web3 Alongside 40+ Partners
    March 21, 2023
  • Metatime Raises $11M in Private Funding To Enhance Web 3.0 Ecosystem
    March 21, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,650.41
$27,650.41
0.06%
Ethereum
$1,751.79
$1,751.79
0.62%
Cardano
$0.354598
$0.354598
2.33%
XRP
$0.445868
$0.445868
3.94%
Dogecoin
$0.074595
$0.074595
1.06%

Spotlight

  • Popular Crypto Analyst Says Bitcoin Surge to $40,000 To Happen A Lot Quicker, Issues Warning on Altcoins
    March 23, 2023
  • $359,000,000 in Bitcoin and Crypto Liquidated in Just 24 Hours As BTC Reclaims $28,000
    March 23, 2023
  • ARK Invest’s Cathie Wood Says Institutions Will Come for Bitcoin (BTC) Amid US Banking Crisis
    March 23, 2023
  • Embattled Terra (LUNA) Founder Do Kwon Arrested in Montenegro: Report
    March 23, 2023
NBX Warsaw Summit Banner
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.
Featured Image: Shutterstock/Billion Photos

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 •
Futuremash •
Industry Announcements

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

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • 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 Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl