Finance

Powell praises economic recovery, sees eventual Fed pull back in help

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Federal Reserve Chair Jerome Powell prepares for a House Financial Services Committee hearing on “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response” in the Rayburn House Office Building in Washington, D.C. on Dec. 2, 2020.

Jim Lo Scalzo | Reuters

Powerful fiscal help from Congress combined with accelerated vaccine distribution has allowed the U.S. economy to recover faster than expected, Federal Reserve Chairman Jerome Powell said Thursday.

At some point, that will allow the central bank to dial back the help it has provided, though he said now is not that time.

“As we make substantial further progress toward our goals, we’ll gradually roll back the amount of…



Source cnbc.com

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