Fed Chair Powell knocks down economic theory supported by Ocasio-Cortez and Bernie Sanders

In his semiannual testimony in front of Congress on Tuesday, Fed Chair Jerome Powell dismissed the idea that Modern Monetary Theory, or MMT, was a viable option, dismissing the claim that budget deficits don't matter. MMT is often cited by progressives like Bernie Sanders and Alexandria Ocasio-Cortez as a means to pay for new government programs.