"In the long-run and even in the medium-run, you wouldn't want to bet against the American economy", he says. Asked whether the economy could heal without an effective vaccine, Mr. Powell suggested that activity could restart before a treatment became available without making a complete rebound.
But he repeated his message that the economy likely will need more government spending to support workers and businesses to allow the economy to recover, beyond the almost $3 trillion already approved by Congress.
His statement came days after a top economic advisor to President Donald Trump favoured giving tax incentives to American companies to move their manufacturing units from China to the USA, amidst a new rift in the bilateral relationship over Beijing's handling of the coronavirus crisis.
The Fed rushed in even before the economic lockdowns were fully in place, slashing the benchmark lending rate and pumping trillions of dollars into the financial system and into lending programs to support corporations, small- and medium-sized businesses and state and local governments.
Observing that this is a time of great suffering and difficulty, Powell said that it has come on the Americans so quickly and with such force that one really can not put into words the pain people are feeling and the uncertainty they are realising. While unemployment could peak at 20 to 25 percent, a level not seen since the 1930s, Powell said he remains confident the country will avoid another depression. And that's by keeping people and businesses out of insolvency just for maybe three or six more months while the health authorities do what they can do.
"It may well be that the Fed has to do more", he said.
In the meantime, he said, the Federal Reserve or Fed and Congress may need to do more to ensure people can pay their bills.
Republicans and the White House have alternately sounded open to additional rounds of support and hesitant to spend more money given the trillions already being pumped into the economy. As Congress debates possible further economic relief, Powell has stretched the limits of typical central bank commentary, directly calling for more fiscal spending. The Fed has approved a suite of programmes as well to help businesses and financial markets function during the pandemic and to try to limit personal and corporate bankruptcies. Powell said the Fed could also adjust the forward guidance it provides to markets and the pace of its asset purchases.
The Fed could also provide more explicit guidance on how long it will keep rates pegged at almost zero and the extent of its bond-purchase programs, Powell said. "But we don't really think so at the Federal Reserve".
Pompeo n'avait offert aucune preuve quant aux "risques sécuritaires" liés aux investissements chinois en Israël . Du Wei, 57 ans , était ambassadeur en Israël depuis février dernier, d'après le site internet de l'ambassade.
En 2017, le défenseur colossal décide de faire ses valises pour une destination non lointaine de son club formateur: Lyon Duchère. J'espère apporter ma générosité, ma bonne humeur, mon envie mais également mon altruisme car j'aime faire jouer les autres.
The jobless rate in March rose to its highest in a year, while job availability slipped to a more than three-year low. Taken together, domestic demand knocked 0.7 percentage point off GDP growth, while external demand shed 0.2 point.
Le succès ou l'échec de son opération "re-start" démontrera que le sport professionnel peut vivre - ou non - avec le coronavirus . En effet, le championnat allemand est le premier à reprendre, à huis clos et sous haute surveillance sanitaire.
It saw her perform 16 songs in total, including live debuts of a number of tracks featured on her latest album, Lover . Disney + Australia and New Zealand are getting a special Taylor Swift concert special this month.
The singing competition series debuted in 2002 on Fox, where it remained for 15 seasons until it went off the air in 2016. One of those singers will be crowned the victor at the end of the two-hour event.
T20 WC postponement could pave the way for IPL: Mark Taylor
Taylor said if postponed IPL is held, the travel will be a player's individual responsibility and not his national Board's. They want India here in this country. "That's what they want and they are already talking about Adelaide Oval as a hub".
Pavard buteur, le Bayern vainqueur — All
Au classement, le Bayern conforte ainsi sa place de leader avec 4 points d'avance sur son dauphin, le Borussia Dortmund . Les rencontres ont été disputées à huis clos et les joueurs ne se sont pas embrassés pour fêter leurs buts.