Federal Reserve Chair Powell testimony
- reiterates in testimony to Congress that the Fed will "do what we can, for as long as it takes" to support recovery
- many economic indicators show "marked improvement"
- despite improvement from depth of crisis, path ahead for economy remains "highly uncertain"
- main street loans approved or in process are now 230, totaling roughly $2b
- evidence suggests most "creditworthy" small and medium-sized businesses can borrow from private lenders
Headlines via Reuters
Federal Reserve System Chair Jerome Powell in remarks released ahead of the first of three days of testimony to Congress this week.
Powell's first appearance is on Tuesday before the House of Representatives Financial Services Committee. He appears again for further congressional testimony on both Wednesday and Thursday. Expect JP to make a strong appeal to Congress for further fiscal support.
Rinse, repeat on this pic:
