Hybrid Hearing with Federal Reserve Chair Jerome H. Powell
On Wednesday, September 23, 2020, at 10:00 a.m. ET, the Select Subcommittee on the Coronavirus Crisis, chaired by Rep. James E. Clyburn, will hold a hybrid hearing with Federal Reserve Chair Jerome H. Powell on the Federal Reserve’s response to the coronavirus pandemic.
During a press conference earlier today, Chair Powell stated that “the current economic downturn is the most severe in our lifetimes,” and said, “the labor market has improved, but it’s a long, long way from maximum employment.” To address these concerns, he indicated that “more fiscal support is likely to be needed.”
The hearing will examine the current state of the job market, the federal government’s economic recovery efforts during the coronavirus crisis, how the crisis has exacerbated inequality, and the need for additional fiscal stimulus.