Federal Reserve Chairman Jerome Powell is likely to face more lawmakers’ questions today about how Congress should design any future economic relief measures amid the coronavirus pandemic, the Wall Street Journal reported. Powell will testify for a second day on Capitol Hill, this time before the House Financial Services Committee starting at noon ET on Wednesday before answering questions from the panel members. Congress faces deadlines this summer over how to address expiring provisions of relief measures for businesses and unemployed workers, following nearly $3 trillion in emergency spending earlier this year. Elected officials in both parties have long used the Fed chairman to serve as an expert witness on economic subjects that the central bank has little authority over. During his testimony yesterday in front of the Senate Banking Committee on Tuesday, Powell tried to avoid appearing too involved in partisan spending discussions while signaling support for more funding in at least three broad areas: (1) aid for unemployed workers; (2) funding for cities and states; and (3) virus suppression.
