Fed's Powell says US recovery faster than expected, faces virus risks - Business Insider

Federal Reserve Chair Jerome H. Powell announces a half percentage point interest rate cut during a speech on March 3, 2020 in Washington, DC.The US entered a new phase of economic recovery "sooner than expected" but still faces challenges in the labor market and in curbing the coronavirus' spread, Federal Reserve Chair Jerome Powell said in prepared remarks.

"All levels of government" should implement relief policy "for as long as needed" to ensure the economy doesn't slide into a deeper depression, Powell addedThe US is rushing into economic recovery but still faces several risks on its way to pre-pandemic highs, Federal Reserve Chairman Jerome Powell said in prepared remarks.

Powell's comments arrive as COVID-19 cases spike throughout the US. Texas, Florida, and Arizona are among the states playing host to new virus hotspots and reinstating lockdown measures to contain the outbreak. Fears of a second wave of coronavirus cases will weigh on consumer confidence and could prematurely freeze the nation's rebound, Powell said.

June data slated for Thursday publication will further detail the labor market's recovery and whether such populations experienced a more substantial improvement in employment over the past month.Goldman Sachs has formulated a strategy that could triple the market's return within a year as volatility remains higher than normal — including 11 new stock picks for the months ahead

Imprimiendo dolar, vendiendo y comprando bonos y otros fundos de resgate? Mais de 40 milhões de pessoas foram no desemprego tio

How are we defining “the economy”? 40Million people are unemployed.

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