Business
US economy at ‘inflection point’, says Fed chief – Sydney Morning Herald
Fed chief Jerome Powell echoed both his recent optimism about the economy and a warning that the COVID-19 pandemic had not yet been fully defeated.
Those hardest hit by the pandemic, including low wage workers in the service sector, could see their jobs return with relative haste in coming months as more and more activities are considered safe to resume, Powell said.
But Powell reiterated that the Fed is not about to change its current policy of near zero interest rates and bond purchases of $US120 billion ($158 billion) per month.
There really are risks out there. And the principal one just is that we will reopen too quickly, people will too…
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