LATEST SENATOR DONNELLY
WASHINGTON, D.C. – Today, U.S. Senator Joe Donnelly, member of the Senate Banking Committee, and U.S. Senator Sherrod Brown, ranking member of the Senate Banking Committee, urged the Federal Reserve to explore and devote resources to supplement federal government efforts to combat the nation’s opioid epidemic.
The Senators stated, “We are writing to urge the Federal Reserve System to commit resources to research, analyze, recommend policy responses, and engage community and business leaders to address this national emergency.”
The Senators noted in the letter the economic impact the opioid epidemic is having on local economies and communities and urged the Federal Reserve to further research this area in order to formulate policy responses to reduce and prevent further opioid use.
“This is not just a public health and law enforcement matter. This is an economic matter,” the Senators wrote. “We believe the Federal Reserve System, including the research departments at the Board and regional Reserve Banks, is in a unique position to help policymakers better understand the impact of the opioid epidemic on labor force participation rates, full employment, and on overall economic activity in communities.”
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