United States takes further steps against coronavirus pandemic

United States takes further steps against coronavirus pandemic

Powell must do more to protect the US economy from viruses. The corona virus that conquered the world remains stable in the USA. More than three thousand deaths occurred yesterday. In this case, Jerome Powell increased economic measures. Federal Reserve President Jerome Powell urged lawmakers to provide more financial incentives to protect the US economy from coronaviruses, as it warns of a weak recovery even after the pandemic is over. "Economic activity is expected to drop at an unprecedented rate in the second quarter," he said at a video press conference Wednesday. "If recovery is for a sound economy, the economy will need more support than all of us." The Federal Open Market Committee kept interest rates close to zero, and said unanimously, "It will use its tools and act appropriately to support the economy." Authorities also warned that the outbreak will focus on the economy in the medium term. Data released early on Wednesday showed that the US economy had contracted at the highest rate since 2008 in the first quarter.