Dec 16, 2020 - Politics & Policy

The Fed's last word on 2020

Jerome Powell
Jerome Powell. Photo: Pool/Getty Images

Federal Reserve Chairman Jay Powell holds his final news conference of the year Wednesday — and Congress may get an earful.

What we’re hearing: Powell is likely to plead with Congress to pass more fiscal support for an economy riven by a global pandemic, and to suggest there are limits to what the Fed can do with monetary policy.

Reader tip: Play around with the Atlantic Council's new interactive feature, and compare the Fed's balance sheet (33% of GDP) to the Bank of Japan's (129% of GDP) to see how other central banks have responded to the challenges wrought by the coronavirus.

Go deeper