Fiscal Policy Will Help Prevent Scarring of Economy: Powell

The transcript discusses initial concerns about economic scarring and highlights the significant role of Congress's actions, particularly the Cares Act, in mitigating these concerns. It emphasizes how these measures have accelerated the return to full employment and positively impacted people's lives.

What was the initial concern regarding the economy?

• Trade deficits

• Economic scarring

• Interest rates

• Inflation rates

What role did Congress play in addressing economic concerns?

• They increased taxes

• They reduced government spending

• They focused on international trade

• They delivered measures quickly

How did the Cares Act influence employment?

• It accelerated the return to full employment

• It slowed down job creation

• It had no impact on employment

• It led to job losses

What is one of the outcomes of the measures taken by Congress?

• Higher inflation rates

• Increased unemployment

• A huge positive difference in people's lives

• A negative impact on people's lives

What has already been achieved by the measures discussed?

• A rise in interest rates

• An increase in trade barriers

• A significant improvement in people's lives

• A decrease in economic growth