Powell, in Prepared Testimony, Says Fed Is Keeping a Close Eye on Virus Fallout

The transcript covers Fed Chair Powell's testimony on the US economy, highlighting the impact of the coronavirus on global markets, the resilience of the US economy, and the labor market's strength. Powell discusses consumer spending, inflation, and challenges in business investment and global growth. He emphasizes the importance of fiscal policy due to low interest rates and warns Congress about the deficit. Powell also clarifies the Fed's T-bill purchases are for reserve management, not monetary policy changes.

What are the main concerns Powell mentioned regarding the US economy?

How does Powell describe the current state of job openings in the US?

What does Powell say about consumer spending and its fundamentals?

What warning did Powell give regarding interest rates and the economy?

What is Powell's stance on the Fed's T bill purchases and their purpose?