Powell: Recovery is Far From Complete

The United States Federal Reserve Chair Jerome Powell said on Tuesday that the US economy needs more stimulus and support efforts, as recovery is not yet complete and could still slip or change its direction into the negative territory if the COVID-19 crisis is not controlled effectively.

Powell remarks came during his online speech to the National Association for Business Economics.

“The expansion is still far from complete.”

“Too little support would lead to a weak recovery, creating unnecessary hardship for households and businesses.”

“The risks of overdoing it seem, for now, to be smaller. Even if policy actions ultimately prove to be greater than needed, they will not go to waste. The recovery will be stronger and move faster.”