Bernanke, Yellen to testify on federal response to coronavirus recession

[Mike 03]

The Hill
July 14, 2020 - 04:49 PM EDT

Former Federal Reserve Chairs Ben Bernanke and Janet Yellen will testify before lawmakers on the federal government's response to the coronavirus-driven economic downturn, a House subcommittee announced Tuesday.

Bernanke and Yellen will share their views about the unprecedented federal efforts to stabilize and protect the economy during a remote hearing held Friday by the House Oversight Committee's special subcommittee on the coronavirus pandemic.

<snip>

The Fed has been widely praised by former officials and economists, including Bernanke and Yellen, for its swift and massive response to the crisis. Fed experts have credited Powell with successfully building off of the emergency playbook deployed by the Bernanke Fed during the depths of the 2007-08 financial crisis.

Even so, lawmakers and policy analysts have expressed concerns that the Fed's emergency efforts could be unwittingly increasing income inequality by providing ample support for stock prices and corporate bonds while struggling to reach average Americans.

Read more: https://thehill.com/policy/finance/507326-bernanke-yellen-to-testify-on-federal-response-to-coronavirus-recession?amp

This might be interesting. A date hasn't been set yet.

[Newest Reality]

1. Oh,

Oh, THAT economy.

None of my concern. My economy is the people and that "gushing up" economy and the Economic Hoover vacuum has us almost completely spent and our remains are being picked at by the vultures of capitalism now. As our bones dry, they will grind them to make their bread.

There is always money to be made on both people, (human capital stock) and corpses.

Their economy is mostly about them and their gain that we work, sweat and bleed, (and now die) for. We are all clearly expendable down here as we gaze up at the Elysium they live in.

They can shove their economy and keep giving each other long hand-out jobs.

[2naSalit]

2. Yeah, this ought to be good...

We need to hear from two of the people who actually rebuilt our economy after the last R administration's disaster.