Fed's Powell fears second coronavirus wave, reiterates crisis-fighting pledge

  • 📰 Reuters
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 97%

United States Headlines News

United States Latest News,United States Headlines

Federal Reserve Chair Jerome Powell on Friday said a potential surge in U.S. coronavirus infections could derail the recovery from the deep downturn triggered by the pandemic, even as he reiterated the central bank's vow to keep fighting the crisis.

WASHINGTON - Federal Reserve Chair Jerome Powell on Friday said a potential surge in U.S. coronavirus infections could derail the recovery from the deep downturn triggered by the pandemic, even as he reiterated the central bank’s vow to keep fighting the crisis.

“I think a second wave would really undermine public confidence and might make for a significantly longer recovery and weaker recovery,” Powell said in a webcast with Alan Blinder, a Princeton University economics professor and former Fed vice chair. The remarks were a somber reminder that the trajectory of the crisis facing the Fed is a function of the public’s health, a factor over which the world’s most powerful central bank has no control.

Asked about limits to the Fed’s crisis toolkit, for instance, Powell said there were few, noting that in fighting “an emergency of a nature we haven’t really seen before ... we crossed a lot of red lines that had not been crossed before, and I am very comfortable that this is that situation where you do that.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

ANOTHER DEMORAT CLOWN ATTEMPTING TO PANIC PEOPLE. JUST THINK IN 5 MONTHS NO HEARATTACKS, NO CANCER, JUST SOROSVID19 DEATHS.GUESS HEART PROBLEMS AND CANCER HAVE BEEN CURED.

Why listen to a bean counter talking about a second wave? The swamp is deep.

He better do better than he did against the first wave, or God help America. Oh yeah, he won’t be here after November!

IMPOSSIBLE. Minneapolis rioters can burn buildings without contracting COVID -- proving the virus has receded and fallen into the abyss.

Stock market is hitting record high again, so why is he so worried? Because all the money printing has been useless but has enriched the rich.

FEAR ..run for your life!

he must get tempted giving so much money..father xmad

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Federal Reserve Is ‘Days Away’ From Making First Main Street Loans To Middle Market Businesses, Powell SaysPowell says Main Street is “far and away the biggest challenge” the Fed has faced during the pandemic. Over 100,000 dead in the USA in 10 weeks from Coronavirus, 41 million unemployed, 25% of workforce out of work, several small companies going out of business permanently, and bankruptcies and evictions soaring. No cure or vaccine. Country is more divided than ever.
Source: Forbes - 🏆 394. / 53 Read more »

Fed's Powell says downturn has been a 'great increaser of income inequality' - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Check it out! Do You Want To create advertising video of your brand logo Not increaser, an indicator of preexisting income disparities. The Federal Reserve is the greatest increaser of income inequality.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Most Businesses Pessimistic About Speed Of Economic Recovery, Fed ReportsHealth concerns, limited childcare, and expanded unemployment are making it more difficult to bring employees back to work, the Fed said. They gotta feel it. I am interested in seeing any economic strategy because right now it seems like we're not doing too much besides holding off for this election.
Source: Forbes - 🏆 394. / 53 Read more »

U.S. businesses hammered by pandemic but see some green shoots, Fed saysU.S. businesses continued to be slammed by the effects of the novel coronavirus epidemic into the middle of May, a Federal Reserve report showed on Wednesday, and few expected a swift recovery despite some signs of hope. US contact tracer WHISTLEBLOWER reveals all the scary stuff. Are we next? Green shoots WHAT or WHO. And WHO is 'green' ? Follow the money... Those green shoots are some expensive ass microgreens. How do I buy stock in green ink?
Source: Reuters - 🏆 2. / 97 Read more »

Most Businesses Pessimistic About Speed Of Economic Recovery, Fed ReportsThe Fed’s most recent report about the state of the economy indicated that even though all 50 states are beginning to take their first steps toward reopening, most businesses are still pessimistic about the pace of economic recovery by theothersarahh theothersarahh But somehow the market is climbing 🤔. We are going to have to start fact checking the fact checkers. theothersarahh Of course, especially USA is fighting with China.
Source: Forbes - 🏆 394. / 53 Read more »

Fed Up With Lockdown, New Yorkers Gather Outdoors to DrinkNew York bars and restaurants are allowed to serve takeout drinks during the pandemic, and with the arrival of warmer weather, patrons have been lingering outside despite restrictions on public gatherings. Spelled fucking assholes wrong. City officials are waiting for the feds bailout so restaurants need to be creative. There is no light at the end of the tunnel. All operators of independent bars, restaurants, delis, bodegas, cafes, bakeries, etc. should fill out the NYC survey:
Source: WSJ - 🏆 98. / 63 Read more »