Powell: US economy still ‘a long way’ from meeting Fed goals
Fed chair predicts continued need for low interest rates and QE, as recovery remains “uneven and far from complete”
Presenting the Federal Reserve’s semi-annual monetary policy report to the US Senate, Jerome Powell said the economy was continuing to struggle under the burden of Covid-19.
The chair of the Federal Reserve testified before the Senate committee on banking, housing and urban affairs on February 23.
The Federal Reserve Act requires the Fed chair to appear before Congress twice annually, in February and July. The central bank must present a monetary policy report on each occasion.
Powell told
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