Statement by Incoming Biden-Harris National Economic Council Director Brian Deese

While we are encouraged by the bipartisan effort underway to provide critical relief to millions of Americans, the package should not include unnecessary provisions that would hamper the Treasury Department and the Federal Reserve's ability to fight economic crises. As we navigate through an unprecedented economic crisis, it is in the interests of the American people to maintain the Fed's ability to respond quickly and forcefully. Undermining that authority could mean less lending to Main Street businesses, higher unemployment, and greater economic pain across the nation. Congress's good faith effort to deliver immediate relief should not be delayed by provisions that could put our future financial stability at risk.