In Gloomy Message, Fed's Powell Dials Down Happy Talk
Video Credit: Wochit News - Duration: 00:46s - Published
In Gloomy Message, Fed's Powell Dials Down Happy Talk
Seven weeks ago, Fed Chair Jerome Powell publicly said he expected economic activity would resume in the second half of the year.
But on Wednesday, Reuters reports Powell offered a much darker outlook.
In an interview webcast by the Peterson Institute for International Economics, Powell warned of an "extended period" of weak economic growth.
The situation is tied to uncertainty about how well the novel coronavirus COVID-19 pandemic could be controlled in the United States.
