Between various tests to determine policy, vague responses, and a general avoidance of answering questions directly, Powell didn't offer much other than a plan for providing perpetual liquidity injections under accommodative monetary conditions.
It’s curious to see what spending is considered essential and which is not. Still, the bigger issue is the idea spending can be adequately tracked in order to illustrate where the stimulus checks have gone.
The Fed now says it is deeply concerned with "diversity." But this only means the Fed is now seeking to bring on more people of racial and ethnic diversity who nonetheless will be in intellectual and ideological lockstep with the Fed's leadership.