U.S. economy in worst shape since WWII; Fed will maintain almost 0% rates: Powell
- 4 years ago
미국 연준 의장, "2차 대전 이후 경기 최악...현 금리 유지"
Federal Reserve Chairman Jerome Powell says the downturn in the U.S. economy is unprecedented in modern history...and is worse than "any recession since World War 2."
In testimony for a congressional hearing Tuesday, he said that, over the last 2 months, more than 20 million people have lost their jobs... reversing almost a decade of gains.
He also said COVID-19 has massively disrupted financial markets and halted the smooth flow of credit.
Powell said the Fed plans to keep interest rates at almost zero percent until the economy bounces back to reasonable levels.
Federal Reserve Chairman Jerome Powell says the downturn in the U.S. economy is unprecedented in modern history...and is worse than "any recession since World War 2."
In testimony for a congressional hearing Tuesday, he said that, over the last 2 months, more than 20 million people have lost their jobs... reversing almost a decade of gains.
He also said COVID-19 has massively disrupted financial markets and halted the smooth flow of credit.
Powell said the Fed plans to keep interest rates at almost zero percent until the economy bounces back to reasonable levels.