Fed chair warns of economic tragedy if America can't control the coronavirus [View all]
Source: CNN
New York (CNN Business)America is on the long road to economic recovery from the pandemic recession, but dark clouds remain on the horizon.
One major risk to the economy is that a renewed rise in infections might again "more significantly limit economic activity, not to mention the tragic effects on lives and well-being," said Federal Reserve Chairman Jerome Powell Tuesday at the National Association for Business Economics annual meeting.
"Managing this risk as the expansion continues will require following medical experts' guidance, including using masks and social-distancing measures," he said.
Powell reiterated his calls for more fiscal stimulus, aimed at supporting America's most vulnerable. He said the risks of Congress pouring too much stimulus into the economy are far lower than the risk of not doing enough. Stimulus negotiations have been in gridlock for months.
Read more: https://www.cnn.com/2020/10/06/economy/fed-powell-coronavirus-stimulus/index.html
"Don't let it dominate your life"
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