Powell says US economy facing heightened uncertainty
June 28, 2020
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says the outlook for the U.S. economy is "extraordinarily uncertain" and the success of the recovery effort will depend in large part on the country's ability to contain the spread of the coronavirus.
"A full recovery is unlikely until people are confident that it is safe to re-engage in a broad range of activities," Powell says in testimony he is scheduled to deliver Tuesday in an appearance with Treasury Secretary Steven Mnuchin before the House Financial Services Committee.
In the testimony released Monday by the Fed, Powell repe...