United States Economy Will Not Rebound From Coronavirus By End Of 2020, Federal Reserve Chair Says

Jerome Powell, Chair, Board of Governors of the Federal Reserve speaks during a conference at the Federal Reserve Bank of Chicago on June 04, 2019 in Chicago, Illinois.

In a Sunday evening interview with 60 Minutes, Federal Reserve Chairman Jerome Powell predicted that the United States economy would not likely rebound from coronavirus before the end of 2020, The Hill reported.

“You really can’t put into words the pain people are feeling and the uncertainty they’re realizing, and it’s going to take a while for us to get back but I would just say this: In the long run, and even in the medium run, you wouldn’t want to bet against the American economy,” he said.

Although Powell said the economy might begin an upturn in the second half of the year, he claimed that a return to pre-pandemic strength will hinge on how soon people are confident to return to a standard routine, which he believes may only happen when a vaccine becomes available.

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by – inquisitr.com