Economics
Powell Stays With Message of Uncertain Path for Recovery
- Fed chair: failure to reverse downturn will worsen inequality
- Reiterates the Fed will use all its tools to support economy
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Federal Reserve Chairman Jerome Powell said the U.S. economy may be entering a period of significant improvements in employment, but one that will leave the labor market “well short” of the robust levels seen just before the coronavirus pandemic.
“We would expect to see large numbers of people during this period coming back to work during this second period -- call it the bounce back or the beginning of the recovery,” Powell said Tuesday as he testified via video conference before the Senate Banking Committee.