Last spring, the Federal Reserve adopted a set of extraordinary and mostly temporary measures to ease the strain in financial markets and ensure banks could support communities and meet customer needs. 6 In the last six months, we have  See Randal K. Quarles, “Remarks at the Hoover Institution” (speech at the Hoover Institution, Stanford, CA (via webcast), October 14, 2020), https://www.federalreserve.gov/newsevents/speech/quarles20201014a.htm.
4 See, e.g., Jerome H. Powell, “Getting Back to a Strong Labor Market” (speech at the Economic Club of New York (via webcast), February 10, 2021), https://www.federalreserve.gov/newsevents/speech/powell20210210a.htm.