Gina Smiley

If you leave this market completely closed, you know, if it fails to operate the way it should, if it becomes impossible for people to issue debt at rates that they can afford to manage to stay in business, you could have a huge round of layoffs just because this market is flailing.

If you leave this market completely closed, you know, if it fails to operate the way it should, if it becomes impossible for people to issue debt at rates that they can afford to manage to stay in business, you could have a huge round of layoffs just because this market is flailing.

Yeah. So what he's saying basically here is, dear Congress, we're trying to help people, but people need money to keep their businesses open or money to make up for the fact that they're not going to work, etc. And we've just had the CARES Act pass, but the CARES Act was always meant to be pretty short term. And this is Jerome Powell being clear that like the Fed cannot solve every problem here.

Yeah. So what he's saying basically here is, dear Congress, we're trying to help people, but people need money to keep their businesses open or money to make up for the fact that they're not going to work, etc. And we've just had the CARES Act pass, but the CARES Act was always meant to be pretty short term. And this is Jerome Powell being clear that like the Fed cannot solve every problem here.

Yeah. So what he's saying basically here is, dear Congress, we're trying to help people, but people need money to keep their businesses open or money to make up for the fact that they're not going to work, etc. And we've just had the CARES Act pass, but the CARES Act was always meant to be pretty short term. And this is Jerome Powell being clear that like the Fed cannot solve every problem here.

Congress needs to act.

Congress needs to act.

Congress needs to act.