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Additional comments from  Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, continue to cross the wires as he responds to questions from members of the Congress at the semi-annual monetary policy testimony before the Committee on Financial Services. Below are some key takeaways, per Reuters.

“Current size of Fed’s balance sheet not a limit to buying bonds in the future.”

“Median and lower U.S. incomes have stagnated in a troubling way.”

“Trends in technology, globalization and education are behind stagnant U.S. incomes.”

“Government debt will mean more spending on interest rather than more important public interests.”

“USD’s  role as the World’s reserve currency reduces spending on interest now.”

“Debt is being used for current consumption and passing the bill to future generations.”

“Fed has the tools it needs but it needs supportive fiscal policy in a downturn.”