Citi's Hollenhorst on Powell, Yellen Testifying Before Congress

The transcript discusses the implications of the Cares Act, focusing on the roles of the Treasury and the Fed. It covers inflation concerns, market expectations, and the impact of fiscal and monetary policies on economic recovery. The discussion also touches on the supplementary leverage ratio, T-bills, and the US debt level, highlighting the coordination between fiscal and monetary authorities.

What is the primary focus of the discussion regarding the CARES Act?

How often are the Secretary of the Treasury and the Fed Chair required to testify according to the provisions of the CARES Act?

What are some potential topics that Congress might inquire about during the testimony?

How does the current economic recovery relate to inflation expectations according to the discussion?

What is the significance of the Federal Reserve's actions in relation to the $2 trillion of funding mentioned?

What concerns do market participants have regarding the supplementary leverage ratio?

What are the implications of the fiscal stimulus being frontloaded in the current economic context?