Fed's Powell continues testimony on Capitol Hill
- The faster we get to post pandemic economy, the smaller the number of unemployed will be
- There is a real concern that if we don't act as quickly as possible to support my are minorities, women, that we will leave behind a more unequal economy
- Want to do is much as we can to get back to a strong economy
- Fed will not preemptively raise rates until we see actual inflation
- premature to be pulling back support for the economy
And more from Mnuchin:
- He supports legislation to help PPP forgiveness
- hospitality industry, airlines have been devastated. Could be helped by PPP, additional aid
The testimony open Powell and Mnuchin in front of the Senate Banking Committee has ended at 12:21 PM ET.
Stocks move higher during their testimony with the NASDAQ and S&P index outperforming. The S&P index is currently up 1.26%. The NASDAQ index is up 1.4%. The Dow industrial average lines with a gain of 0.85%.
