FINANCE & TAX Fed’s Powell warns economy's p
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Posted On: 04/30/2020 8:45:21 AM
FINANCE & TAX
Fed’s Powell warns economy's pain will last
The Fed chief’s comments suggest the U.S. economy could face a rocky path for at least the next year as it attempts to rebuild.
The Fed chief’s comments suggest the U.S. economy could face a rocky path for at least the next year as it attempts to rebuild. The Commerce Department reported earlier in the day that the GDP contracted from January to March at a rate that, if sustained for a year, would shrink the economy by 4.8 percent. The second quarter of the year, a period that accounts for the full force of the pandemic shutdown, is expected to be considerably worse.
https://www.politico.com/news/2020/04/29/fed-...omy-222400
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