U.S. Fed chair says case "very strong" for fiscal policy as Americans set to lose relief benefits

WASHINGTON, Dec. 16 (Xinhua) -- U.S. Federal Reserve Chairman Jerome Powell said on Wednesday that the case for fiscal policy right now is "very strong" as millions of Americans are set to lose pandemic relief benefits by the end of the year.

With the expiration of unemployment benefits, there is a need for households and businesses to have fiscal support, Powell said at a virtual press conference after the Fed concluded the final policy meeting of 2020.