The coronavirus pandemic inflicted a “cruel and uneven toll on lives and livelihoods” across the United States, head of the Federal Reserve Jerome Powell (pictured) told the Wall Street Journal on Friday.
The official stated that the central bank and the government acted together to limit the long-term effects of the “unprecedented” downturn, with more than half of the initial job losses being recovered. The arrival of COVID-19 vaccines has also helped “brighten” the economic outlook, he added.
“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell concluded.
