WASHINGTON – Federal Reserve Chair Jerome Powell reiterated his belief last week that while the U.S. economy has been steadily rebounding from the devastation caused by the pandemic recession, the recovery is far from complete and needs continued support from the Fed.
In an opinion piece posted Friday in the Wall Street Journal, Powell characterizes the economy as much improved, with about half the 20 million jobs that were lost to the pandemic having been recovered and with the outlook brightening as vaccinations are more widely administered.
Yet he adds, “The recovery is far from complete, so at the Fed we will continue to provide the economy with the
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