Fed will help banks get cash in hurricane affected areas, Powell says ...Middle East

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Federal Reserve Chair Jerome Powell said Monday that the Fed can help regional and local banks in hurricane-affected areas of the country make sure they have enough cash on hand for their customers during the ongoing emergency. “We have the ability through the reserve banks to make sure that the banks have available cash so that if power is out for a significant amount of time, there’s enough cash to do transactions,” Powell said during an event in Tennessee on Monday afternoon, during which he was asked about hurricane Helene. “We’re encouraging bankers to work with their affected customers in affected areas,” he said, cautioning that the Fed itself has to stay “mainly on the sidel

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Fed will help banks get cash in hurricane affected areas, Powell says ...Middle East

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