Tags: Nancy Pelosi | House Speaker | Fed | Jerome Powell | stimulus

Pelosi: Fed Chair Told Us to 'Think Big'

nancy  pelosi in a blue suit and white top speaking to reporters
House Speaker Nancy Pelosi (Win McNamee/Getty Images)

By    |   Monday, 11 May 2020 08:27 AM EDT

Speaker of the House Nancy Pelosi is calling on her colleagues to “act boldly” in order to help Americans get through the coronavirus pandemic.

In a Mother’s Day letter addressed to her “Democratic colleagues,” she rallies House members to help support state and local entities impacted by lost revenue due to the virus outbreak. She asks lawmakers to heed the advice of the Chair of the Federal Reserve Bank, who challenged them to “Think Big.” 

“The Chair of the Federal Reserve Bank has told us to ‘Think Big’ because interest rates are so low,” she wrote. “We must ‘Think Big’ For The People now, because if we don’t, it will cost more later. Not acting is the most expensive course.”

On Friday, President Donald Trump said he is not in a rush to pass more stimulus measures. His announcement came after the Labor Department announced an unprecedented 20 million jobs were lost in April.

But Pelosi pushed for getting more money “in the pockets of the American people" in her Sunday letter. 

“This is not only necessary for their survival but also is a stimulus to the economy,” she penned. “Direct payments, unemployment insurance, rental and mortgage help and student loan assistance are essential to relieve the fear that many families are facing.”

She said lawmakers need to take action “that we have never had to take before” to help “meet the needs of all Americans.”

"In this critical moment for our country, we must demonstrate a clear strategy of testing, tracing, and treatment,” she said. “We must honor our heroes in the coronavirus crisis with support, not just words. We must address the pain of families who have lost jobs through no fault of their own.” 

She ended her note with a prayer for a cure and a vaccine. 

© 2024 Newsmax. All rights reserved.


Politics
Speaker of the House Nancy Pelosi is calling on her colleagues to "act boldly" in order to help Americans get through the coronavirus pandemic. In a Mother's Day letter addressed to her "Democratic colleagues," she rallies House members to help support state and local...
Nancy Pelosi, House Speaker, Fed, Jerome Powell, stimulus
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2020-27-11
Monday, 11 May 2020 08:27 AM
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