Powell says Fed crossed red lines when virus demanded action

Bloomberg/Christopher Condon and Catarina Saraiva

photo of Fed chairman Jerome Powell delivering Congressional testimony“We crossed a lot of red lines that had not been crossed before,” Powell said Friday during an online event hosted by Princeton University’s Griswold Center for Economic Policy Studies. “I’m very confident that this is the situation where you do that and then you figure it out.”

USAGOLD note:  Spend now.  Pay later.  In the form of monetary policy, that is …… Assuming, of course, we find our way out of the Deep Pandemic Woods.

Repost from 6-1-2020

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