Fed chief Powell warns outlook for US economy ‘extraordinarily uncertain’
Vaccine developments very positive for the medium term, but for now uncertainties remain, says Fed chair
01 December 2020 - 20:56
Washington — Federal Reserve chair Jerome Powell cautioned legislators that the US economy remains in a damaged and “extraordinarily uncertain” state despite progress made in the development of Covid-19 vaccines.
“Recent news on the vaccine front is very positive for the medium term,” Powell said during a hearing Tuesday before the Senate banking committee. “For now, significant challenges and uncertainties remain, including timing, production and distribution, and efficacy across different groups.”..
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