Economy
May 14, 2020
More Fiscal Spending Needed, Says Fed Chairman in Warning to Administration
Written by Sandy Williams
Federal Reserve Chairman Jerome Powell delivered a dire forecast for the U.S. economy should the government fail to provide ongoing financial support for businesses and workers and warned of potential “lasting damage” to the economy.
“The scope and speed of this downturn are without modern precedent, significantly worse than any recession since World War II,” said Powell on Monday in remarks at the Peterson Institute of Economics
