U.S. Federal Reserve Chairman Warns Of Economic Tragedy If The Covid-19 Coronavirus Pandemic Continues

 

CNN: Fed chair warns of economic tragedy if America can't control the coronavirus 

New York (CNN Business)America is on the long road to economic recovery from the pandemic recession, but dark clouds remain on the horizon. 

The recovery is far from complete, and the US economy remains of danger of shifting into reverse once again. One major risk factor: A rise in Covid-19 infections, Federal Reserve Chairman Jerome Powell said Tuesday at the National Association for Business Economics annual meeting. 

A second wave of coronavirus could "more significantly limit economic activity, not to mention the tragic effects on lives and well-being," Powell said. "Managing this risk as the expansion continues will require following medical experts' guidance, including using masks and social-distancing measures." 

In addition to gaining control of the pandemic, Powell reiterated his calls for more fiscal stimulus aimed at supporting America's most vulnerable. 

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WNU Editor: This is what the FED Chairman wants. More spending/more printing money/and more debt .... Watch Fed Chair Powell Ask Congress For More Fiscal Stimulus (Zero Hedge).

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