Former Fed Chairman Ben Bernanke.
Former Federal Reserve Board Chairman BenBernanke is calling on Congress to provide a new aid package thatprovides "significantly" more money to state and local governmentsthan the $150 billion allotted in the Coronavirus Aid, Relief, andEconomic Security (CARES) Act—plus aid for the unemployed and thepublic healthcare system.
In an op-ed in today's New York Times, Bernanke, whooversaw the central bank's $4 trillion response to the GreatRecession of 2007–2009, notes that today's unemployment rate ismuch higher than the 10 percent peak reached during the GreatRecession, and that state and local government budget shortfallsare much greater.
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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.
