Bloomberg/Rick Miller and Craig Torres
“The remark, which came in opening testimony that Powell is due to repeat to a Senate panel on Wednesday, was an unusual appeal by the head of a politically independent institution that is used to combating economic contractions on its own.”
USAGOLD note: Unusual perhaps in the United States, but not so unusual elsewhere like in Europe and Japan where the heads of both central banks have appealed to the political sector for fiscal help in the recent past. ‘Tis a sign of the times . . . . . . and the policy bind presented by zero/near zero percent interest rates. (There’s always helicopter money.)
Repost from 2-12-2020
