Powell is Committed to Using All Tools!

Powell is Committed to Using All Tools! Powell is commited to using all tools. Fed Chairman Jerome Powell said he will use all means for economic recovery. The FED published the text of the presentation of President Jerome Powell on September 22 on the Coronavirus Aid, Support and Economic Security Act (CARES) at the Financial Services Committee of the House of Representatives. In this presentation, Powell, who gave information about the measures taken against the economic effects of the coronavirus (Covid-19) epidemic, stated that the FED is working to mitigate the economic effects of the epidemic. Federal Reserve Chairman Jerome Powell underlined that the bank is determined to use all the tools it takes, no matter how long it takes, to ensure that the economic recovery is as strong as possible and to limit the economy's permanent damage.   There Is Significant Improvement “We are determined to use our tools, no matter how long it takes, to ensure that the recovery is as strong as possible and to limit the permanent damage to the economy,” Powell noted. Pointing out that the economy started to recover after the contraction in the second quarter, Powell said, "Many economic indicators show a significant improvement." On the other hand, President Powell pointed out that both employment and general economic activity remained well below pre-pandemic levels and noted that uncertainty in the economy continued.   We Are Committed To Use All Our Tools `` The road to the economy will depend on the containment of the virus and policy measures taken at all levels of government, '' Powell reminded that many strong measures have been taken since March. Powell said they are taking these measures to support wider financial conditions and to provide credit flows to households, businesses and local governments.   President Powell noted:

“Our economy will completely recover from this difficult period. We are committed to using all of our tools to support the economy as needed. ''