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Head of Federal Reserve warns U.S. Congress against pulling fiscal support too quickly Updated: 2020-06-18 09:00:22 KST

The head of the Federal Reserve is warning against pulling fiscal support too quickly.
On the final day of his two-day Congressional testimony before the House Financial Services Committee on Wednesday, Jerome Powell said he'd be concerned to see Congress pull back stimulus measures prematurely.
Powell added the stimulus has already had a positive effect on the U.S. economy, boosting consumer spending, income data and payrolls.
He told Congress that the Fed needs to keep doing what it can do to help the recovery.
The Fed has deployed multiple lending and liquidity programs and slashed rates to near zero over the past three months.

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