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US economy highly uncertain despite marked improvement: Fed's Powell

Mnuchin, in prepared remarks to the Democratic-controlled committee, said he felt the economy "will see tremendous third-quarter growth"

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Jerome Powell is likely to get an earful from lawmakers concerned that there has been limited use of programs designed to help small businesses

Reuters Washington

4 min read Last Updated : Sep 22 2020 | 9:21 PM IST

America’s economy has shown “marked improvement” since the coronavirus pandemic drove it into recession, but the path ahead remains uncertain and the U.S. central bank will do more if needed, Federal Reserve Chair Jerome Powell told a congressional panel on Tuesday.

Noting the rebound in jobs and household spending since the economy cratered in the spring and early summer, Powell said it still remains far from where it was “and the path ahead continues to be highly uncertain … A full recovery is likely to come only when people are confident it is safe to reengage in a broad range

Topics : Federal Reserve Jerome Powell US economy

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