USA - Federal Reserve Chairman Jerome Powell called on Congress to reduce the US federal budget deficit to ensure the central bank could adequately respond to a financial crisis or recession. Powell told a House committee Tuesday that lawmakers should curb federal spending while the economy is running strong before a downturn forces Congress or the Fed to pump stimulus spending into the US. “Putting the federal budget on a sustainable path when the economy is strong would help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy during a downturn,” Powell said Tuesday before the House Financial Services Committee. “A more sustainable federal budget could also support the economy’s growth over the long term.”