Edited by Ningbo Handy Electrical Co.,Ltd. a power cord manufacturer.
US Federal Reserve Chairman Jerome Powell said in a television interview broadcast Wednesday that he expects the central bank to maintain its easy monetary policy this year to support the economic recovery.
In an interview with CBS News, Powell said the U.S. economy is expected to grow faster, but the risks from the outbreak, which disproportionately affects low-income people, cannot be ignored.
He argues that the economic recovery is highly uneven, with unemployment still at about 20 per cent among the bottom quarter of income earners, particularly among African-Americans and Latinos.
Powell said the U.S. labor market has improved recently, but the number of people employed is still 8.4 million below pre-outbreak levels.
Powell reiterated that the Fed will maintain its current target range for the federal funds rate until substantial progress is made toward its two objectives of full employment and price stability.
Post time: Apr-12-2021