Fed’s Jerome Powell: ‘We Don’t Really See’ Risk of Inflation from Printing $3 Trillion

‘We are already helping state and local governments’


POWELL: “You know, we don’t really see that. What we see, though, is — what we see is small, medium and large businesses are not able to borrow through their normal channels to some extent. We step in and replace that. That’s a very healthy thing. That’s a positive thing. We’re providing relief, we’re providing stability. We’re trying to create a bridge from our very strong economy to another place of economic strength, and that’s what our lending really does. It’s very broad. It’s across small, medium and large businesses. We’ll — we are already helping state and local governments and just places where credit is not being offered where it should be offered, where it’s really just a question of liquidity and credit availability, we can step in and make that happen. That's a very positive thing and an appropriate thing to do in this highly unusual situation we’re in.”

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