In a downturn, it would also be important for fiscal policy to support the economy. However, as noted in the Congressional Budget Office's recent long-term budget outlook, the Federal budget is on an unsustainable path with high and rising debt.
Powell highlights the need for fiscal policy support amid rising national debt.
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Stopping sooner could have made some difference, but not likely enough to fundamentally alter the trajectory of the economy
If we move too slowly, there may be unnecessary losses, painful losses in the employment market.
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