The Federal Reserve chairman said the outlook for the U.S. economy had "brightened substantially" in 2021.
Bitcoin's price surged this month as large companies including Elon Musk's Tesla and Mastercard voiced support for its potential as a payments option. This week, however, it's price has fallen.
U.S. Treasury Secretary Steven Mnuchin requested the return of $455 billion in coronavirus-related funding by the Federal Reserve on Thursday.
The deadline to pass the next federal spending budget falls on December 11. Congress must approve another bill by that date to avoid a government shutdown.
Trump's tweets came just hours after Federal Reserve chairman Jerome Powell made his strongest call yet for higher spending to shield the economy.
Federal Reserve Chairman Jerome Powell has been tipped to outline the central bank's most active efforts yet in bringing inflation back to a healthy ballpark.
The calls come as many support measures are about to or have expired. There is no set deadline for the passing of a second stimulus bill.
Jerome Powell told lawmakers that the path to economic recovery was "extraordinarily uncertain" amid the continued spread of COVID-19.
The truth behind the stock market surge (we think); Jerome Powell testifies; and why Steven Mnuchin doesn't want you to know who got small biz loans.
"What Congress has done to date has been remarkably timely and forceful," Jerome Powell told senators. "I do think we need to take a step back and ask over time: Is it enough?"
"We are committed to using our full range of tools to support the economy in this challenging time even as we recognize that these actions are only a part of a broader public-sector response," Fed Chair Jerome Powell will say during congressional testimony on Tuesday.
The Federal Reserve chairman added that the U.S. economy would "get through this" downturn onset by the coronavirus pandemic.
"We'll get through this. It may take a while," Powell said in an interview. "It could stretch through the end of next year."
"Additional fiscal support could be costly," Powell continued, "but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery."
"Our country's highest priority must be to address this public health crisis, providing care for the ill and limiting the further spread of the virus," Federal Reserve Chairman Jerome Powell said in a statement.
Jerome Powell said in a rare interview he believed there could be a "good rebound" on the back of the economy's pandemic-related decline.
The president made the remarks after the Dow Jones fell by 623 points Friday, a drop sparked by Trump tweets from earlier in the day.
"The global economy has weakened. I think partly it's because of conflicts over trade and the uncertainty that's caused for businesses," Yellen said.
"I want to note in the hearings yesterday with Fed Chairman Jay Powell, it was Ms. AOC asked him about the Phillips Curve," Larry Kudlow told Fox News.
The Fed has often been the target of criticism from the Trump administration, and toward the end of last year, the president had reportedly discussed firing Powell.
Yellen's policies as the Federal Reserve chairwoman helped lower unemployment and spur the country's economic recovery after the 2008 financial crisis, but her legacy will partially depend in part on her successor, Jerome Powell.
Powell is popular within the Federal Reserve system, where he's been a governor since 2012.
'We may be moving more to a more balanced policy with what sounds like more business-friendly regulation and possibly more fiscal support,' Fed governor says.