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Federal Reserve Chairman Says COVID Relief is Needed, while President and Senate Republicans Abandon Americans

October 6, 2020
Press Release

Hartford, CT – Today, Rep. John B. Larson (CT-01) released the following statement after Federal Reserve Chairman Jerome Powell warned of severe and longstanding effects to the economy if an additional coronavirus relief package is not passed:

“Federal Reserve Chair Jerome Powell, who was appointed by President Trump, is right. The President and Senate ​are playing catch up, ​and they weren’t negotiating in good faith. Their lack of action ​will cause great harm to the American people.   There will be serious consequences to our economy if the federal government does not provide more COVID relief.  That is why the Democrats in the House passed the Heroes Act in May and a revised Heroes Act just last week.  Unfortunately the Senate is still recalcitrant.  I just met with retailers in my district who are devastated by the pandemic, losing their businesses, and workers who are losing their unemployment benefits.  People need help now.  Speaker Pelosi and the House Democrats have compromised and tried to make this work. Instead of doing what is right, the President and Senate Republicans are calling off negotiations, leaving millions of Americans in turmoil.”

 

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