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6/16, 8:35 PM (Source: TeleTrader)
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Powell: US economic recovery incomplete

The United States economy is continuing to strengthen on the wings of widespread vaccination and unprecedented fiscal policy actions, Federal Reserve Chair Jerome Powell (pictured) said on Wednesday, noting, however, that the recovery remains incomplete.

The official stated that much of the "rapid" growth being experienced right now can be attributed to a bounceback in activity from depressed levels. Due to this, some industries are experiencing near-term supply constraints which are restraining activity, Powell asserted.

Breaking the News / MD