Sen Rand Paul, R-K., discusses the importance of deduction in federal budget on ‘earning money’.
Federal reserve chair Zerome poly Renewed his pushback against Elon Musk’s claims that the Fed has been overseas during a Congress hearing on Tuesday.
Powells were testifying before the Senate Banking Committee for a half -deployment on monetary policy and economy and Sen Andy Kim, DNJ was asked if the central bank is overstoffed.
“No, I would say, you know, perhaps overwork, not overfast.
Musk recently stated that the Federal Reserve is “absurd overstafed” and suggested Government efficiency department (DOGE) You can set your places on the audit of the fed. He had previously criticized Fed’s monetary policy decisions.
Elon Musk warned that Federal Reserve Dogi could face audit
Fed Chair Jerome Powell said that the workforce of Fed has been “overwork,” no “Overstaphade.” (Seth Herald / Bloomberg Getty Image / Getty Image)
Powell first stated that the Fed undergoes a careful budget process to determine its staffing levels. In Tuesday’s hearing, he also discussed the role played by the workforce of Federal Reserve Kovid epidemic And how it depended on the knowledge of the employees for a long time.
“When blue and outside economies around the world are closing in a hit way, American Treasury Market is stopping to work, companies cannot roll on their commercial paper, economists are writing about a depression Are. Fed, which went through a global financial crisis 10 years ago, went ahead, “We got it,” Powell explained.
“We know what to do. What we do with money market funds here, what do we do with companies that cannot achieve any financing. Markets were closed, and companies were maturing , Those who were maturing the debt that they had to roll. “
Pavel pushed back to Musk’s claim, ‘Nutuka Overstafed’
Tesla and SpaceX CEO Elon Musk, who is leading Dogi, has criticized the Fed. (Through Saul Loaib/Pool/AFP Getty Image/Getty Image)
“Those who knew what to do in that beautiful emergency, was working on it federal Reserve And in other places, but I will tell you, it was impressive, “he said.” In fact, our work was very successful during that intense phase of crisis, and it is completely due to the basis of knowledge that lives with the people of the career. Fed. “
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After testifying before the Senate Banking Committee on Tuesday, Powell has to appear before the House Financial Services Committee to appear to be the monetary policy and the economy to give their crescent to the House MPs.
