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Fed’s Powell is chief cheerleader for fiscal stimulus

Mr Powell’s appeals for a fiscal deal have a social dimension: he has noted that additional stimulus would be crucial to saving low-income and minority households disproportionately affected by both the virus and the recession. 

This would prevent the “tragic” risk of exacerbating existing disparities, he said last week, using emotionally loaded language unusual for the central bank.

FT 11 October 2020


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