Sound Bites from FOMC Members on What AIT Could Mean

It was a busy week for Fed Chairman Jerome Powell. On Tuesday he testified in the House Financial Services Committee. On Wednesday he testified before a House panel overseeing the U.S. response to the coronavirus pandemic. On Thursday he appeared before the Senate Banking Committee.

Already having issued powerful forward guidance last week, the Fed Chair once again reiterated that direct fiscal support may be needed as the Fed has limited powers. For evidence of the Fed’s limited tools, lo...

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