FED Chairman Powell: Economic Recovery Continues

FED Chairman Powell: Economic Recovery Continues Chairman of the US Federal Reserve (FED) Jerome Powell said, ”Economic recovery continues ...”. FED Chairman Jerome Powell spoke on the Senate Banking Committee. In his speech powell said, “The economic recovery continues, but the pace of recovery has moderated.” Stating that they have taken strong steps to reduce the damage to the economy, Powell said: “More than half of the 22 million jobs lost were regained. The economic collapse did not affect all Americans equally. Economic inequality has created great uncertainty about the future. The outlook for the economy is extraordinarily uncertain.”   "The Next Few Months Will Be Tough" Noting the rapid increase of new types of coronavirus (Covid-19) cases, FED President Jerome Powell used the following statements: "The increase in Covid-19 cases is alarming, the next few months will be tough. Vaccination news are positive, but there are major challenges and uncertainties. The FED will return the unused portion of funds allocated to loan programs." At the end of his speech, Powell reiterated that the FED is ready to use all means to get out of this difficult process.