Powell Says Vaccine Needed for Recovery

Federal Reserve Chairman Jerome Powell reportedly said that there might not be a full economic recovery in the United States until a vaccine is developed against COVID-19.

However, he also said he expects the economy to have a full rebound by the second half of next year.

“In the long run and even in the medium run, you wouldn’t want to bet against the American economy. The American economy will recover,” Powell said in an interview with CBS’ “60 Minutes,” according to CNBC.