“We are committed to using our full range of tools to support the economy and help ensure that the recovery is as robust as possible.”
— Jerome Powell
Simplified Meaning:
When we say we will use all our tools to support the economy, it means we will do everything we can to make the economy strong again. Think of it like fixing a broken car. We wouldn't use just a wrench or just a screwdriver. We would use all the tools we need to fix every part of the car so it runs smoothly. The people in charge of the economy, like the government and banks, can use different methods to help. For example, they can lower taxes so people have more money to spend, or they can give loans to businesses so they can keep hiring workers. During a tough time, like after a big financial crisis, these leaders know it's important to act quickly and use every resource they have. Just like when someone is sick, and doctors use the best medicines and treatments available to help them get better fast. If they do this well, the economy will get back on track faster, and people will find it easier to get jobs, save money, and live better lives. So, they're making a promise to do everything in their power to help everyone recover and build a strong, healthy economy.