Federal Reserve Board Chairman Jerome Powell. (Photo: Bloomberg)
A day after congressional Democrats revealed an additional $3 trillion economic relief plan for an ailing economy, Federal Reserve Chairman Jerome Powell crystallized the choice before legislators: more, expensive fiscal support or prolonged economic damage.
In a speech to the Peterson Economic institute, Powell noted that the current downturn is "unprecedented" in its "scope and speed" and "worse than any recession since World War II."
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Bernice Napach
Bernice Napach is a senior writer at ThinkAdvisor covering financial markets and asset managers, robo-advisors, college planning and retirement issues. She has worked at Yahoo Finance, Bloomberg TV, CNBC, Reuters, Investor's Business Daily and The Bond Buyer and has written articles for The New York Times, TheStreet.com, The Star-Ledger, The Record, Variety and Worth magazine. Bernice has a Bachelor of Science in Social Welfare from SUNY at Stony Brook.
