Fed chair Jerome Powell predicted the economy will recover in the second half of this year in a rare appearance on NBC's 'Today Show.'
Venturing into the province of celebrity news and cooking demonstrations, Federal Reserve Chairman Jerome Powell on Thursday told Americans that the economy would recover and the central bank would be there to assist.
He said the economy may already be in a recession, but said this was not a typical downturn because the government has asked people to step back for the public good. At a certain point, the spread of the virus will be controlled and the economy will recover.“Very hard to say precisely when that will be,” Powell added.
This estimate dovetails with Treasury Secretary Steven Mnuchin’s estimate that Fed lending could total as much as $4 trillion to the economy.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
'We may well be in a recession,' says Fed Chairman Jerome Powell'There's nothing fundamentally wrong with our economy, quite the contrary,' Federal Reserve Chairman Powell tells TODAYShow, while acknowledging that 'We may well be in a recession.'
Leer más »
'We may well be in a recession,' says Fed Chairman Jerome Powell"There can be a good rebound on the other side of this," said Federal Reserve Chairman Jerome Powell.
Leer más »
Powell Says Economy May Be in Recession, Virus Will Dictate TimetableThe chairman of the Federal Reserve said the Fed’s job now is to make sure businesses of all sizes can have a bridge of support so that the economy can recover faster.
Leer más »
Fed's Powell says virus to dictate when U.S. economy reopensFed's Powell: U.S. may be in recession, control of virus to dictate timing of economy reopening
Leer más »
Powell on whether the Fed has enough firepower: 'We're not going to run out of ammunition'The central bank chief said the Fed's actions will help provide capital to businesses that need it and will be especially helpful once the virus is brought under control.
Leer más »