July 29, 2020

Fed’s Powell: Recovery depends on stopping virus, government relief

Washington (AFP) – The resurgence in coronavirus cases in recent weeks is weighing on US economic activity, and a recovery will depend on both checking the virus and governmental aid, Federal Reserve Chair Jerome Powell said Wednesday.Halting the spread of COVID-19 is key as American consumers will not start spending again until they feel it is safe to do so,¬†Powell said, but in the meantime some additional support will be needed to make it through the worst crisis in recent memory.With the United States’ case count on the rise and recent indicators showing the tentative rebound from the downt…

source https://this.kiji.is/en/661308150466528353?c=648607265489716321

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