March 17, 2020 / 7:44 PM / 13 days ago

Pelosi urged Fed's Powell to help states, cities: spokesman

WASHINGTON (Reuters) - U.S. House Speaker Nancy Pelosi spoke with Federal Reserve Chairman Jerome Powell on Tuesday, urging him to use the central bank’s authority to help state and local governments and taking encouragement from his view that Congress can think big on fiscal stimulus, a spokesman for Pelosi said.

“The Speaker raised the importance of continued engagement by the Fed and urged the Chairman to explore ways to use the Fed’s authority to assist the most affected state and local governments,” Pelosi spokesman Drew Hammill said on Twitter.

“The Speaker was encouraged by the Chairman’s perspective that with interest rates at nearly zero Congress is enabled to fiscally think big as we craft a robust response,” he added.

Reporting by Tim Ahmann; Editing by Chizu Nomiyama

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