Fed’s Powell Says Sharp Downturn Won’t Last

Posted by on May 18, 2020 10:48 am
Categories: US National Stories

Federal Reserve Chairman Jerome Powell says while the coronavirus is likely to cause Depression-era levels of unemployment, the economy should recover faster than it did in the 1930s.

Fed Chairman Jerome Powell warns it could be another year and a half before the U.S. recovers from the economic fallout of the pandemic. But he says this will not be another Great Depression.

(Image credit: Mandel Ngan/AFP via Getty Images)

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