Fed’s Powell tries to reassure Americans the economy will recover
March 26, 2020 | Greg Robb | MarketWatch.com
Venturing into the province of celebrity news and cooking demonstrations, Federal Reserve Chairman Jerome Powell on Thursday told Americans that the economy would recover and the central bank would be there to assist.
Asked at the end of a 15 minute interview on NBC’s “Today Show,” what his message was to Americans during this difficult time, Powell replied: “The Federal Reserve is working hard to support you now and our policies will be very important when the recovery does come to make that recovery as strong as possible.”
He said the economy may already be in a recession, but said this was not a typical downturn because the government has asked people to step back for the public good. At a certain point, the spread of the virus will be controlled and the economy will recover.
