Economy

Powell says recovery path is ‘extraordinarily uncertain’ amid efforts to control virus

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Federal Reserve Chair Jerome Powell holds a news conference following the Federal Reserve’s two-day Federal Open Market Committee Meeting in Washington, July 31, 2019.

Sarah Silbiger | Reuters

Federal Reserve Chairman Jerome Powell said big questions remain over the outlook for the economy, particularly in light of ongoing efforts to contain the coronavirus pandemic.

In remarks he will deliver Tuesday to the House Financial Services Committee, the central bank leader turned up concerns he had expressed earlier this month about growth as the U.S. remains mired ina  recession that began in February.

“Output and employment remain far below their pre-pandemic levels. The path forward for the…



Source cnbc.com

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