"We should do everything possible"



The president of the Federal Reserve (Fed) of the USA, Jerome Powell, insisted on Tuesday before Congress on the need to "do everything possible" to alleviate the economic impact of the coronavirus, amid legislative negotiations for a new fiscal stimulus package.

"It should be remembered that the measures taken to contain the virus represent an investment in our individual and collective health. As a society, we should do everything possible to give a break to those who are suffering for the public good," Powell said in an appearance. virtual before the banking committee of the Senate.

From the monetary side, he assured that the Fed "is committed to using all the tools available in these challenging times", after cutting benchmark interest rates to almost 0%, although he acknowledged that "these actions are only part of a response broader public sector. "

Powell appeared together with Treasury Secretary Steven Mnuchin to explain progress in disbursing the previous $ 2.2 trillion fiscal package agreed in April and the liquidity injections brought to the market by the central bank to ease financial tensions. generated.

However, the magnitude of the crisis, the largest since World War II in the last century and the unemployment rate of around 15% in April due to the wave of mass layoffs, has forced new negotiations in the face of a fiscal stimulus program. additional.

The Democrat-controlled House of Representatives passed a new $ 3 trillion tax bailout plan, which includes a trillion dollars to prop up states and local governments, as well as another round of direct payments, including this one. Immigrants without papers.

Faced with this, the White House and Republicans - as well as some Democrats - oppose both turning to the undocumented and rescuing the states, since they warn that in some cases their financial problems are prior to the pandemic.

USA exceeds 90,000 deaths and 1.5 million COVID-19 infections.

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