5/3, 8:31 PM (Source: TeleTrader)
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Powell: US economic outlook 'brightened'

Jerome Powell, the Chair of the Federal Reserve, said in a speech on Monday that the economic outlook has brightened and is making real progress, although it is not out of the woods of the pandemic crisis yet.

Powell pointed out that the disparities in the pandemic's economy have impacted minorities and the educational sector the most. Therefore, over 30% of black and Hispanic mothers are out of the workforce due to school and childcare disruptions.

The fed official expressed his belief that the US economy will only be able to reach its full potential when all members of the society will be able to contribute and benefit from the economic prosperity.

Breaking the News / LH