Powell says U.S. economy facing heightened uncertainty

Jun 29, 2020
Powell said the re-opening occurred sooner than expected, with hiring and consumer spending both picking up in May.
Federal Reserve Board Chairman Jerome Powell
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Stocks sink as virus cases spike

Jun 11, 2020
The Federal Reserve said the road back to recovery would be long, dimming some of the optimism investors.
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Amid bleak economic projections, Fed votes to keep interest rates near zero

The Federal Reserve estimated unemployment will be at 9.3% by the end of 2020.
The Federal Reserve Wednesday issued projections showing interest rates near zero through 2022.
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Federal Reserve loan program targets mid-size businesses

Jun 3, 2020
The loans will be bigger than those from the Paycheck Protection Program — and they can't be forgiven.
A worker restocks groceries at a supermarket in Brooklyn in March. The Main Street Lending Program offers loans that would likely be hard for businesses like grocers or cafes to pay back.
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What can the Federal Reserve do to help the economy?

May 20, 2020
The central bank is already buying bonds to keep money flowing, but it has a few more tools in its kit.
Federal Reserve Chairman Jerome Powell testifies before Congress in 2018. Powell has been urging Congress to provide more fiscal support during the pandemic.
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Economic recovery "may take some time to gain momentum," Fed Chair says

It may take until the end of 2021 for the economy to recover, Jerome Powell said Sunday.
Fed Chair Jerome Powell says there's "really no limit" to what the central bank can do with lending programs.
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Powell warns of a possible sustained recession from pandemic

May 13, 2020
Powell cautioned that numerous bankruptcies among small businesses and extended unemployment for many people remain a serious risk.
Powell urged Congress and the White House to act further to prevent long-lasting economic damage.
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Fed says not to worry about debt right now. But we have to, eventually.

Apr 29, 2020
Politicians never want to tell voters about the need to balance the budget through tax hikes or spending cuts.
"This is not the time" to worry about debt, Jerome Powell, chair of the Federal Reserve, said at the Federal Open Market Committee meeting on Wednesday in Washington, D.C.
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How does the Fed find an extra $2.3 trillion?

Turns out it's much more akin to printing money than it is to borrowing.
The central bank announced yesterday it's making more money available to counteract the economic effects of the pandemic.
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