NEW YORK/LONDON/MILAN/MELBOURNE (Reuters Breakingviews) – Corona Capital is a column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.
– Central bankers
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FISCAL KNUCKLE-RAPPING. Federal Reserve Chair Jerome Powell delivered a mild rebuke to squabbling Washington lawmakers on Tuesday. While praising the fiscal stimulus as Covid-19 plunged the United States into recession, he effectively said they needed to do more to avoid a “tragic” reversal of progress. Listen up, House Speaker Nancy Pelosi, Senate Leader Mitch McConnell and Treasury Secretary Steven Mnuchin.
One way Powell expressed this in Fedspeak was