US may be in recession, control of virus to dictate timing of economy reopening

3/26/2020

HEALTH-CORONAVIRUS/FED-POWELL (URGENT):Fed's Powell: U.S. may be in recession, control of virus to dictate timing of economy reopening

26 March 2020 - 14:09 By Reuters US President Donald Trump looks on as Jerome Powell speaks at the White House in Washington, US Image: REUTERS/Carlos Barria/File Photo The US"may well be in recession" but progress in controlling the spread of the coronavirus will dictate when the economy can fully reopen, Federal Reserve chair Jerome Powell said Thursday in an interview on NBC's Today Show. "We are not experts in pandemic... We would tend to listen to the experts. Dr. Fauci said something like the virus is going to set the timetable, and that sounds right to me," Powell said, in reference to Anthony Fauci, head of National Institute of Allergy and Infectious Diseases. "The first order of business will be to get the spread of the virus under control and then resume economic activity." Most read Read more: Times LIVE

Not maybe, it is. Then again you didn't report on the $1.5Trn given to banks weeks ago - the further $6Trn which the fed is printing, all of which will undoutebly go to private industry & billionaires. It's not a recession, it's worse than the great depression & it's world wide.

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