The former chair of the Federal Reserve made the suggestion during a conference call with House Democrats on how the coronavirus pandemic is hurting the economy.
Struggling firms are shedding workers as the economy plummets. Measures to tackle the coronavirus pandemic, including lockdowns and quarantines, have evaporated demand in the economy and there is a deep recession in the offing.
But with the number of new coronavirus cases and deaths growing sharply in the U.S., which is now the epicenter of the outbreak that began in central China late last year, Congress is preparing to inject yet more stimulus into the economy. Senate Majority Leader Mitch McConnell, a Kentucky Republican, endorsed the idea of a fourth package in an interview with The Associated Press published last Friday.
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