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Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell communicate Tuesday to the Senate Committee on Banking, Housing and Urban Affairs on efforts their respective establishments have taken to fight the pandemicโs influence on the economic system.
In ready remarks for the congressionally mandated testimony, Powell famous the significance of the joint assist, saying the Fedโs lending applications particularly โhave served as a backstop to key credit score markets and helped to revive the stream of credit score from non-public lenders via regular channels.โ
Individually, Yellen stated she is โoptimistic in regards to the medium-term trajectory of our economic system,โ although she, like Powell, famous that the Covid delta variant has slowed the restoration.
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