Yellen Says Fed Is Pleading for Fiscal Relief

The transcript discusses the Federal Reserve's role in supporting the economy, highlighting its limitations in providing direct aid and its focus on fiscal relief. It critiques central banks for exaggerating their relevance and not addressing global issues adequately. The Fed's dual mandate of inflation and employment is emphasized, with a focus on creating a strong job market to benefit minority workers.

What is one of the main challenges the Federal Reserve faces in supporting smaller businesses?

• Lack of funds

• Excessive regulation

• High interest rates

• Inability to provide direct grants

What was the primary goal of central banks during the financial crisis?

• Fighting climate change

• Increasing global trade

• Preventing a financial collapse

• Reducing unemployment

According to the transcript, what is a limitation of central banks in addressing global issues?

• They lack the capacity to vaccinate people

• They have too much political power

• They can only focus on inflation

• They cannot influence domestic policies

What are the two main goals of the Federal Reserve's dual mandate?

• Inflation and maximum employment

• Trade balance and economic growth

• Public spending and taxation

• Interest rates and fiscal policy

How does a strong job market benefit minority and less skilled workers according to the transcript?

• It offers better healthcare benefits

• It provides more job opportunities

• It reduces their working hours

• It increases their wages