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Powell told lawmakers Tuesday that the “effect on inflation will be neither particularly large nor persistent,” from the $1.9 trillion rescue plan.
Even an uncomplicated case of COVID-19 can result in out-of-pocket costs.
The CARES Act expanded the list of items that FSA money can be used to buy, which includes feminine hygiene products.
Fed programs and policy have helped ease economic pain during the pandemic. In its dwindling days, the Trump administration will end some of those emergency programs Dec. 31.
Economist Karen Petrou says the Fed programs have fallen short, but that the Fed needs some facilities in the face of inaction from Congress.
Mnuchin said that he is requesting that the Fed return to Treasury the unused funds appropriated by Congress for operation of the programs.
When tens of millions of workers were laid off and applied for benefits in the spring, the system crashed. Here are some ideas for making it work better.
In just 38 days, 12 million jobless workers will lose their benefits. Talks on another relief bill have stalled in Congress.