February 10, 2021

Fed’s Powell warns US ‘very far’ from a strong labor market

Washington (AFP) – The US economy is a long way from having a strong job market and the experience of past recessions shows it could take years to recover, Federal Reserve Chair Jerome Powell said Wednesday. Mass vaccinations are key to halting the Covid-19 health crisis, but it will take a full suite of government policies to repair the damage the pandemic has inflicted on the US labor market, the central bank chief said in a speech. “Despite the surprising speed of recovery early on, we are still very far from a strong labor market whose benefits are broadly shared,” Powell told the Economic…

source https://this.kiji.is/en/732358993563631616?c=648607265489716321

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