Wednesday, 28 Oct 2020

Powell: Congress and Fed both need to 'stay with it' to bolster recovery

Jerome Powell, Chairman of the U.S. Federal Reserve, testifies before the Select Subcommittee on the Coronavirus Crisis hearing in Washington, D.C., U.S., September 23, 2020. Kevin Dietsch/Pool via REUTERS

WASHINGTON (Reuters) – The U.S. Congress and the Federal Reserve both need to “stay with it” in working to bolster the economic recovery, Federal Reserve Chair Jerome Powell said on Wednesday.

Despite progress in rebounding from the coronavirus economic downturn, “there is a long way to go,” with millions still jobless compared to where the economy was in February, he said.

“We need to stay with it … The recovery will go faster if there is support coming both from Congress and the Fed.”

Source: Read Full Article

Related Posts