Powell Warns of a Possible Sustained Recession from Pandemic

Federal Reserve Chair Jerome Powell warns that there still could be widespread bankruptcies among small business and extended unemployment for many people.

  • Published 13 May 2020

[template id="245201"] WASHINGTON (AP) — Federal Reserve Chair Jerome Powell is warning of the threat of a prolonged recession resulting from the viral outbreak and is urging Congress and the White House to act further to prevent long-lasting economic damage. The Fed and Congress have taken far-reaching steps to try to counter what is likely to be a severe downturn resulting from the widespread shutdown of the U.S. economy. But Powell warns that there still… Read at AP News