U.S. Fed Chairman Re-Expands Corona Virus Infection Increases Uncertainty about Economic Outlook November 6 at 7:20 AM
Powell, chairman of the Federal Reserve, the central bank of the United States, said at a news conference Wednesday that the spread of new coronavirus infections and increased uncertainty about the outlook for the economy.
At a meeting held until May 5, the Federal Reserve decided to maintain its current zero interest rate policy and measures for easing in quantity.
Speaking at a press conference after the meeting, Mr. Powell said of the current state of the U.S. economy: “We have recovered from a temporary drop in economic activity, but the pace of improvement is slowing.”
On that basis, Mr. Powell said, “I am particularly concerned that the new coronavirus is expanding again in the United States and around the world. The outlook for the economy is very uncertain,” he said, and stressed the need for additional economic measures to support the economy.
The U.S. economy has shown a significant recovery in GDP growth of more than 33 percent on an annualizedized rate in the three months to September, but the pace of recovery has slowed since then.
On the other hand, the number of people infected with the new virus is increasing again in the United States, and as talks between the ruling and opposition parties stagnate in the presidential election, there is interest in the direction of additional measures.