Powell Sees Challenging Time Ahead, More Stimulus Needed

The video discusses the government's response to an economic downturn caused by an external shock, likened to a natural disaster. It highlights the swift action by Congress, particularly through the CARES Act, which helped offset lost income and prevent mass insolvencies. The importance of healthcare in achieving full economic recovery is emphasized, along with the need for continued efforts and potential future actions by Congress in fiscal policy.

What was the primary cause of the sudden mass unemployment discussed in the video?

• An external shock

• A technological revolution

• A financial crisis

• A political upheaval

Which legislative act is mentioned as part of Congress's response to the economic emergency?

• The Financial Stability Act

• The Economic Recovery Act

• The CARES Act

• The New Deal

Why is healthcare considered crucial for a full economic recovery?

• It ensures financial stability

• It boosts consumer spending

• It reduces government debt

• It provides confidence in safety

What is suggested as a potential need for the future to maintain economic stability?

• Increased monetary policy

• More fiscal policy actions

• Higher interest rates

• Reduced government spending

Who is responsible for determining the specifics of future fiscal policy actions?

• The Treasury Department

• The Federal Reserve

• Congress

• The President