Many are debating the need for such a large stimulus package amid strong retail sales and equity markets.
Janet Yellen will become the first woman to run the Treasury if confirmed.
Billions in spending to distribute vaccines and improve testing was seen as a positive.
The changes on the FOMC this year could influence the fine-tuning delivered by the Fed’s asset-purchasing program.
The program was designed to provide as much as $600 billion in credit to mid-sized U.S. companies damaged by Covid-19.
The Fed chairman says vaccines are not an economic panacea.
President-elect Joe Biden can remake the Fed’s leadership by 2022.
The presidential winner will have the ability to reshape the Fed’s leadership by 2022.
She said the U.S. can make progress by prioritizing investment at the neighborhood level.
Officials are concerned that the recovery will falter without additional fiscal stimulus.
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