Fed Chair Powell: Vaccine may be needed to restore economic confidence – By OAN Newsroom (OANN) / May 17 2020
Federal Reserve Chairman Jerome Powell has claimed a coronavirus vaccine will be necessary for full economic recovery. On Sunday, America’s top central banker stated the vaccine will have an important psychological effect on restoring investor and consumer confidence in the U.S. economy.
He also expressed people should not bet against America’s ability to recover from pandemic. According to the latest polls, fearmongering in mainstream media has convinced 30 percent of Americans they cannot return to normal life without a vaccine.
Powell has suggested the U.S. economy could recover within the coming year.
“Assuming there’s no second wave of the coronavirus, I think you’ll see the economy recovery steadily through the second half of this year. For the economy to fully recover, people will have to be fully confident. That may have to await the arrival of a vaccine.” – Jerome Powell, Chairman of the Federal Reserve
He noted coronavirus fears continue to stir economic uncertainty, while policy response remains unclear, despite strong macro fundamentals.
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