Fed's Powell says economic forecasts filled with uncertainty
May 22, 2020
WASHINGTON (AP) — Efforts to forecast the U.S. economy's path to recovery from the current deep downturn face "a whole new level of uncertainty," Federal Reserve Chairman Jerome Powell said Thursday.
Not only is there the difficulty predicting how the coronavirus pandemic will play out, it is also unclear how American workers and consumers will react as lockdowns aimed at limiting the spread of the virus are lifted, Powell said in an address to a virtual Fed conference.
Successfully restarting the economy will depend in large part on the public's confidence that the loosening of the stay-...