9/22, 5:14 PM (Source: TeleTrader)
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US recovery would be faster with fiscal response - Fed's Powell

The economic recovery from the COVID-19 pandemic would be faster with more fiscal support, Federal Reserve Chairman Jerome Powell said on Tuesday in his testimony on the Fed's response to the crisis.

Answering questions from lawmakers on the House Financial Services Committee, Powell noted that there are still 11 million people out of work, although there has been "really good progress" regarding the economic recovery.

"Our policies will support recovery, but it will go faster for those people if we have the full support of the government," Powell concluded.

Breaking the News / JC