September 4, 2020

Pandemic worsens American inequality, Fed chair says

Washington (AFP) – Poor Americans are bearing the brunt of the US coronavirus downturn and may also take longer to recover, Federal Reserve Chair Jerome Powell said on Friday.”Without question, this event has exacerbated really pre-existing disparities in our economy that were already troubling,” Powell said in an interview with National Public Radio.He said help should be given to people who have lost their livelihoods due to Covid-19 through no fault of their own — comments that come amid an impasse in Washington over a new aid package to offset the economic damage from the virus.”The burde…


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