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Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell speak Tuesday to the Senate Committee on Banking, Housing and Urban Affairs on efforts their respective institutions have taken to combat the pandemic’s impact on the economy.
Powell spoke prepared remarks in preparation for congressionally required testimony. He said the Fed’s lending program “have served as an anchor to key credit markets, and helped to restore credit flows from private lenders through regular channels.”
Separately, Yellen stated that she was optimistic about the economy’s medium-term course, though like Powell she noted that Covid delta has slowed down the recovery.
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