WASHINGTON, D.C. – Today in a hearing entitled, “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response” in the House Financial Services Committee, Congressman Blaine Luetkemeyer (MO-03) questioned Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell about the economic effects of the pandemic. 

Click HERE to watch.

On the need to provide forbearance while the American economy recovers: 

“As we saw in ’08 and ’09, when we went in and very punitively shut down entire industries, especially commercial real estate and real estate development areas, it had a really, really devastating effect on not only the local economy but the economy as a whole. So I hope we are very cautious about this… with regards to forbearance and allowing these businesses to get back on their feet.”