Federal Reserve Chairman Jerome Powell said Monday that the Fed will help local and regional banks in hurricane-hit areas ensure they have enough cash for their customers during the ongoing emergency. said he could assist.
“We're able to ensure through the Reserve Bank that banks have cash available, so even if there is an extended power outage, there will be enough cash to trade,” Powell said at an event Monday afternoon in Tennessee. I was asked about Hurricane Helen.
“We encourage bankers to work with affected customers in affected areas,” he said, warning that the Fed “must remain largely a bystander.” . [is] I sympathize with this very difficult situation that people are in. ”
Hurricane Helen killed more than 100 people and wreaked havoc on communities in the southeastern United States as it passed through Florida, Georgia, the Carolinas, Tennessee and other states, according to the Associated Press.
Images of destroyed property, damaged infrastructure and storm surge debris were spread across digital and social media platforms on Monday.
More than 1,000 Federal Emergency Management Agency employees are “supporting states affected by the hurricane,” the agency announced on its website Monday afternoon.
“We continue to deliver critical supplies such as food, water and generators to affected areas.[s]tarps and other equipment,” the agency said. “We are coordinating a federal force of more than 3,500 personnel, each contributing their expertise to this mission.”
Cash is especially useful in emergencies, as it allows you to be flexible as your situation evolves, your needs change, and your priorities change.
According to USA.gov, cash donations are a “great way to provide post-disaster relief” and can help purchase needed supplies in bulk.
