Powell speech: Economy will recover 'steadily' through 2H 2020

Dhwani Mehta FXStreet

While speaking on CBC’s ‘Face the Nation’ on Sunday, the US Federal Reserve (Fed) Chairman Jerome Powell said, “economy will recover 'steadily' through the 2nd half of 2020.”

Additional quotes

“It's going to take 'a while' to get back all GDP lost.”

“Economic recovery needs people to feel confident about virus and safety.”

“Full confidence may have to await the arrival of a vaccine.”

“The US recovery may stretch through the end of next year.”

Attention turns towards Powell’s testimony due later in the week ahead. Powell is due to testify on Coronavirus Aid, Relief, and the Economic Security Act before the Senate Banking, Housing, and Urban Affairs Committee in Washington DC.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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