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Fed chair warns of economic tragedy if America can’t control the coronavirus

Fed chair warns of economic tragedy if America can’t control the coronavirus





Fed chair warns of economic tragedy if America can't control the coronavirus

One major risk to the economy is that a renewed rise in infections might again “more significantly limit economic activity, not to mention the tragic effects on lives and well-being,” said Federal Reserve Chairman Jerome Powell Tuesday at the National Association for Business Economics annual meeting.

Powell strongly supported a new economic stimulus package aimed at supporting America’s most vulnerable. He said the risks of Congress pouring too much stimulus into the economy are far lower than not doing enough. Talks about more stimulus have stalled.

This is a developing story. It will be updated





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