Powell notes economic improvement, but says the pandemic remains a risk


Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a House Select Subcommittee on the Coronavirus Crisis hearing in Washington, D.C., U.S., September 23, 2020.

Stefani Reynolds | Reuters

Federal Reserve Chairman Jerome Powell said in testimony prepared for delivery to Congress this week that the economy is growing but faces continued threats from the coronavirus pandemic.

The central bank leader also highlighted rising inflation pressures that he expects to lessen over time.

As the economy recovers from the pandemic, he also pledged continued support from policies the Fed put into place in the early days of the Covid-19 threat.

“Since we last met, the economy has shown…


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