`` If FED Gives Support, Economic Recovery Will Be Quick ''

`` If FED Gives Support, Economic Recovery Will Be Quick '' US Federal Reserve (FED) President Jerome Powell said, "If the Fed gives support, the economic recovery will be quick." The President of the Federal Reserve (FED), Jerome Powell, made a presentation at the Coronavirus Crisis Subcommittee of the US House of Representatives on the measures taken against the economic effects of the new type of Coronavirus (Covid-19) pandemic and answered the questions of the House of Representatives members. US Federal Reserve (FED) President Jerome Powell stated that if Congress and FED support, the economic recovery will be faster. Pointing out that millions of people are still unemployed despite the momentum recorded on the road to economic recovery, President Powell noted that "there is a long way to go".   Stating that if the FED and Congress support, many borrowers will also benefit from these programs, Powell said:

"But for others, a loan that may be difficult to repay may not be the solution, and in this case direct financial support may be needed."

  FED Vice President Randal Quarles pointed out at an event of the International Bankers Institute that the economy still needs more support. "Although we see the beginning of a strong recovery, even optimistic forecasts show that it will take a long time to fully recover from this shock," Quarles said.   FED Vice President Richard Clarida, who gave an interview to Bloomberg television, stated that the economy was recovering 'solid' but still 'in a deep hole'. On the other hand, Boston Fed President Eric Rosengren stated that he was more pessimistic about the economy than other officials. Speaking at the Boston Economy Club, Rosengren said, "The additional support that I believe is very needed which is unlikely to occur anytime soon."