WASHINGTON - The US economic recovery from the novel coronavirus epidemic is set to be challenging and there will be no quick fix, Federal Reserve chairman Jerome Powell said on Friday in comments that reinforced his recent cautionary stance.
A full recovery, he has said, hinges on the country bringing the epidemic, which has killed more than 118,000 Americans, fully under control. Earlier on Friday, Boston Fed president Eric Rosengren also cautioned that the continued spread of the virus could hamper the US economic rebound, and that more fiscal and monetary support will likely be needed.
Source: Financial Digest (financialdigest.net)
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