Coronavirus: Fed's Powell says US economy needs more policy help to avoid 'prolonged recession'

Coronavirus: Fed's Powell says US economy needs more policy help to avoid 'prolonged recession'

Ibtimes·2020-05-13 23:33

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Federal Reserve Chairman Jerome Powell on Wednesday said that Congress and the White House may need to act further to pull United States out of an economic crisis that has already cost around 26 million jobs, thousands of deaths and a level of pain that is "hard to capture in words". Powell also warned of the threat of a prolonged recession resulting from the coronavirus outbreak that is going to last long.

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