COVID-19: Public Policy Group Report - 14 May 2020

    View Author May 2020
    The chairman of the Federal Reserve Board, Jay Powell, warned Wednesday that the US economy could sustain “lasting damage” if allowed to slide into a deep recession as a result of COVID-19, and said Congress must consider providing significant additional “stimulus” spending in the days and weeks ahead. Democrats in the US House of Representatives are preparing for a vote Friday on massive legislation, the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, that would provide US$3 trillion in emergency aid.