Jerome Powell, Chairman of the U.S. Federal Reserve, testifies before the Select Subcommittee on the Coronavirus Crisis hearing in Washington, D.C., U.S., September 23, 2020. Kevin Dietsch/Pool via REUTERS
September 23, 2020
WASHINGTON (Reuters) – The U.S. Congress and the Federal Reserve both need to “stay with it” in working to bolster the economic recovery, Federal Reserve Chair Jerome Powell said on Wednesday.
Despite progress in rebounding from the coronavirus economic downturn, “there is a long way to go,” with millions still jobless compared to where the economy was in February, he said.
“We need to stay with it … The recovery will go faster if there is support coming both from Congress and the Fed.”
(Reporting by Howard Schneider; Editing by Chris Reese)
