Economics
Powell Warns Recovery Highly Uncertain, Argues for More Aid
- Fed chair and Treasury Secretary Mnuchin appear before House
- Focus on how taxpayer money being used, what more can be done
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Federal Reserve Chair Jerome Powell said the U.S. economy has a long way to go before fully recovering from the coronavirus pandemic and will need further support.
“The path forward will depend on keeping the virus under control, and on policy actions taken at all levels of government,” he told the House Financial Services Committee on Tuesday. While a recovery is underway, “both employment and overall economic activity, however, remain well below their pre-pandemic levels, and the path ahead continues to be highly uncertain.”