Fed Chair Powell Sees A Gradual Recovery

Economic recovery will be gradual and prolonged, but federal aid programs are worth it to help stimulate the economy, said Federal Reserve Chairman Jerome Powell in statements to Peterson Institute for International Economics.

“Additional fiscal support could be costly but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery,” Powell said, as quoted by MarketWatch.

He also said that negative interest rates are not currently on the table for the Federal Reserve.