Powell, Yellen Face Congress Over Covid-19 Economic Response

The video discusses the $1.9 trillion relief bill and the differing approaches of Janet Yellen and Jerome Powell. Yellen supports Biden's plan and advocates for more spending, while Powell focuses on achieving full employment before addressing debt. The video also explores the potential impact of full employment on inflation and interest rates, and the ongoing debate between Republicans and Democrats on handling national debt.

What is Jerome Powell's strategy regarding political pressures while managing economic policies?

• Engage actively with political debates

• Advocate for immediate interest rate hikes

• Support the Republican viewpoint

• Maintain a neutral stance and focus on economic goals

What is Janet Yellen's position on Biden's economic plan?

• She supports it but opposes higher taxes

• She is neutral

• She fully supports it and advocates for more spending

• She opposes it

What potential economic outcome does Yellen anticipate by next year?

• A recession

• A decrease in interest rates

• Full employment

• Deflation

How does Yellen justify the U.S. handling higher debt levels?

• By suggesting that debt should be ignored

• By claiming that debt levels are irrelevant

• By stating that the cost of servicing debt is lower than in 2007

• By arguing that debt levels should decrease

What is Powell's primary focus before addressing the U.S. debt situation?

• Increasing taxes

• Achieving full employment

• Reducing government spending

• Raising interest rates