PELLEY: And when you say things, people listen. And Wall Street didn’t want to hear that this was going to take longer than their hopes indicated?<\/p>\n
POWELL: I was really calling out a risk that I think is an important one for people to be cognizant of, and that is the risk of longer-run damage to the economy. And really, the good news is that we have the tools to limit that longer-run damage by continuing to provide support to households and businesses as we get through this. And that was really my message.<\/p>\n
PELLEY: It was meant to be a signal to Capitol Hill to tell lawmakers the economy needs a great deal more support?<\/p>\n
POWELL: That was a part of my remarks this morning. I also wanted to just talk more at length about the longer-run dangers and commit the Fed to really stay in this fight as long as we need to as well….<\/p>\n
PELLEY: Has the Fed done all it can do?<\/p>\n
POWELL: Well, there’s a lot more we can do. We’ve done what we can as we go. But I will say that we’re not out of ammunition by a long shot. No, there’s really no limit to what we can do with these lending programs that we have. So there’s a lot more we can do to support the economy, and we’re committed to doing everything we can as long as we need to.<\/p>\n
Read it all<\/a>.<\/p>\n \u201cWe’re not out of ammunition by a long shot. No, there’s, there’s really no limit to what we can do with these lending programs that we have\u201d<\/p>\n Full transcript is worth a readhttps:\/\/t.co\/aVGXNyfPP9<\/a><\/p>\n \u2014 Jonathan Ferro (@FerroTV) May 17, 2020<\/a><\/p><\/blockquote>\n\n