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Federal Reserve Chair Jerome Powell testifies during a House Select Subcommittee on the Coronavirus Crisis hearing on Capitol Hill in Washington on Wednesday, Sept. 23, 2020. (Kevin Dietsch/Pool via AP)

Powell faces lawmakers’ skepticism on some Fed aid programs

FILE - In this June 30, 2020, file photo Federal Reserve Board Chairman Jerome Powell, reflected in the sneeze guard set up between himself and members of the House Committee on Financial Services, speaks during a hearing on oversight of the Treasury Department and Federal Reserve pandemic response on Capitol Hill in Washington. The Federal Reserve adjusted its inflation target to seek price increases above 2% annually, a move that will likely keep interest rates low for years to come. The Fed on Wednesday, Sept. 16, also left its benchmark short-term rate unchanged at nearly zero, where it has been since the pandemic intensified in March. (Bill O'Leary/The Washington Post via AP, Pool)

Powell: Many small companies can borrow without Main Street

FILE - In this June 30, 2020, file photo Federal Reserve Board Chairman Jerome Powell, reflected in the sneeze guard set up between himself and members of the House Committee on Financial Services, speaks during a hearing on oversight of the Treasury Department and Federal Reserve pandemic response on Capitol Hill in Washington. The Federal Reserve adjusted its inflation target to seek price increases above 2% annually, a move that will likely keep interest rates low for years to come. The Fed on Wednesday, Sept. 16, also left its benchmark short-term rate unchanged at nearly zero, where it has been since the pandemic intensified in March. (Bill O'Leary/The Washington Post via AP, Pool)

Fed sees rates near zero through 2023, perhaps longer

In this June 30, 2020, file photo, Federal Reserve Chair Jerome Powell testifies during a House Financial Services Committee hearing on the coronavirus response on Capitol Hill in Washington. (Tasos Katopodis/Pool via AP) ** FILE **

Jerome Powell edges toward loosening the Fed’s stance on inflation

Fed should address racial gaps in jobs, income, Dems propose

FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. Federal Reserve officials are grappling this week with the timing and scope of their next policy moves at a time when the raging viral pandemic has weakened the U.S. economy. No major changes are likely when the Fed releases a statement Wednesday, July 29, after its two-day policy meeting ends and just before Powell holds a news conference. (AP Photo/Jacquelyn Martin, File)

Fed sees dim economic outlook as virus squeezes economy

FILE - In this June 30, 2020 file photo, Federal Reserve Chair Jerome Powell testifies during a House Financial Services Committee hearing on the coronavirus response on Capitol Hill in Washington. The Federal Reserve has opened one of its lending programs to nonprofit groups, including hospitals, educational institutions, and social service organizations. The Fed said Friday, July 17, that its Main Street Lending Program, which is targeted to mid-sized businesses, will now extend credit to nonprofits with at least 10 employees and endowments of less than $3 billion. (Tasos Katopodis/Pool via AP, File)

Fed wrestles with its next moves as virus stalls US economy

In this May 22, 2020, file photo, the Federal Reserve building is viewed in Washington. Federal Reserve officials last month expressed concerns about the severity of the economic downturn triggered by the coronavirus pandemic. The minutes of the June 9-10 discussions that were made public Wednesday, July 1, 2020, show officials grappling with economic disruptions that had already occurred. (AP Photo/Patrick Semansky, File) **FILE**

Fed minutes show concerns about severity of downturn

Powell says US economy facing heightened uncertainty

FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. The Federal Reserve on Wednesday June 3, approved an expansion of its $500 billion emergency program to support state and local governments. The expansion will allow all states to have at least two cities or counties eligible to tap the Fed support program regardless of population.(AP Photo/Jacquelyn Martin, File)

Powell: A stronger job market is key to combating inequality

In this March 3, 2020, photo, Federal Reserve Chair Jerome Powell pauses during a news conference in Washington. (AP Photo/Jacquelyn Martin) **FILE**

Fed chair warns of ‘unsustainable’ path for national budget

In this March 3, 2020, file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. (AP Photo/Jacquelyn Martin) ** FILE **

Jerome Powell: ‘Reasonable probability’ that Congress, Fed will need to do more for recovery

FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. The Federal Reserve on Wednesday June 3, approved an expansion of its $500 billion emergency program to support state and local governments. The expansion will allow all states to have at least two cities or counties eligible to tap the Fed support program regardless of population.(AP Photo/Jacquelyn Martin, File)

Powell warns that long downturn would mean severe damage

In this March 3, 2020, photo, Federal Reserve Chair Jerome Powell speaks during a news conference in Washington to discuss an announcement from the Federal Open Market Committee. (AP Photo/Jacquelyn Martin) **FILE**

Jerome Powell: ‘Significant uncertainty’ about timing and strength of economic recovery

In this March 3, 2020, file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. (AP Photo/Jacquelyn Martin) ** FILE **

Fed says ‘full range of tools’ in play to counter pandemic

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Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell have said the government’s top priority should be to provide affordable loans to small businesses and further support for millions of Americans still unemployed.

Asian shares gain, cheered by US rally on hopes for stimulus →

he said that for smaller businesses, the more effective means of support would be to make more loans available through the separate Paycheck Protection Program.

Powell faces lawmakers' skepticism on some Fed aid programs →

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