9/21, 10:44 PM (Source: TeleTrader)
more TeleTrader news

Powell: Fed will provide support as long as needed

Federal Reserve Chair Jerome Powell warned in his prepared remarks on Monday that the employment and the overall economic activities remained below pre-crisis levels as the economic future continued to be "highly uncertain."

"The path forward will depend on keeping the virus under control, and on policy actions taken at all levels of government," Powell is expected to say in front of the United States House Committee on Financial Services tomorrow.

He stressed that the American economy would fully recover from the coronavirus pandemic, reiterating that the Fed remains committed to using its "full range of tools" to provide support for "as long as it's needed."

Breaking the News / ND