Economics
Powell Says Recovery Far From Complete, Fed Support to Continue
- Says recovery quicker than expected, looks to be strengthening
- Millions of Americans still hurting, Powell to tell lawmakers
This article is for subscribers only.
The economy seems to be gathering steam, though it is still far from fully recovering from the damage wrought by the pandemic, Federal Reserve Chairman Jerome Powell said.
“The recovery has progressed more quickly than generally expected and looks to be strengthening,” Powell said in prepared testimony to be delivered Tuesday to the House Financial Services Committee. “But the recovery is far from complete, so, at the Fed, we will continue to provide the economy the support that it needs for as long as it takes.”