US Economic Indicators Show 'Marked Improvement' Since COVID-19 Outbreak - Powell

Sumaira FH Published September 22, 2020 | 02:20 AM

WASHINGTON (UrduPoint News / Sputnik - 22nd September, 2020) Many US economic indicators have improved markedly since the outbreak of the coronavirus pandemic in March but more work is needed to lift the nation and the Federal Reserve is determined to do whatever it takes to support the recovery, Chairman Jay Powell said in a speech prepared for delivery to Congress.

"Economic activity has picked up from its depressed second-quarter level, when much of the economy was shut down to stem the spread of the virus. Many economic indicators show marked improvement," Powell said in his remarks to be delivered at the three-day House hearing for the Coronavirus Aid, Relief, and Economic Security Act.