ABSTRACT

Monetary Policy and the State of the Economy, Virtual Hearing Before the Committee on Financial Services, U.S. House of Representatives, One Hundred Sixteenth Congress, Second Session, June 17, 2020   [open pdf - 3MB]

This is the June 17, 2020 virtual hearing "Monetary Policy and the State of the Economy" held before the House Committee on Financial Services. From the opening statement of Maxine Waters: "Chair Powell, the law that requires the Federal Reserve Chair to testify before Congress twice each year was established back in 1978. However, no Fed Chair has ever testified before this committee with the economy in the condition that it is in today. More than 116,000 Americans are dead from the coronavirus. And just last week, 21 States recorded an increase in their average daily new cases compared to the prior week. The April jobs report was the worst in American history, showing 20.5 million jobs lost, and wiping out nearly a decade's worth of job gains in a single month. Today, the top-line unemployment rate remains higher than it has been at any time since the Great Depression, and 3 full percentage points above its highest level during the Great Recession." Statements, letters, and materials submitted for the record include those of the following: Jerome H. Powell.

Report Number:
Serial No. 116-97
Publisher:
Date:
2021
Copyright:
Public Domain
Retrieved From:
U.S. Government Publishing Office: http://www.gpo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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