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Jerome H. Powell, chair of the Board of Governors of the Federal Reserve System, said at a PIIE virtual event on May 13 that as Congress faces difficult decisions on taxation and spending, "Additional fiscal support could be costly, but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery." In a conversation with Adam S. Posen, president of PIIE, Powell also declared that the Fed "will continue to use our tools to their fullest until the [COVID-19] crisis has passed and the economic recovery is well under way."
The Peterson Institute for International Economics building is closed to staff and visitors until further notice. All PIIE personnel are working remotely, with access to telephone messages.
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A basic income scheme for the developing world