Bernanke and Yellen join call for new fiscal stimulus in US
Former Fed chairs among 148 economists warning of “disastrous” effects if Congress fails to act
Former Federal Reserve chairs Ben Bernanke and Janet Yellen have joined a group of 148 economists calling for a second round of fiscal stimulus in the US.
In a letter to Congressional leaders, the economists warn that much of economic support in the “Cares Act”, the initial fiscal package launched in response to the Covid-19 crisis, will expire this summer. The “parallel health and economic crises” have been “especially damaging” to vulnerable groups, including black, Latinx and Native American
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