Monday , November 29 2021

FRB President Announces Sustainable Recovery of US Economy – Risk of “Significantly” Increased Infection-Bloomberg


Powell, chairman of the Federal Reserve Committee (FRB), said yesterday that the U.S. economic recovery is likely to continue at a “steady” pace, but that there is a rise in new coronavirus infections and a risk of losing strength. He added that it is too early to complete the FRB’s emergency lending facility.

Powell said in an online event that a rise in coronary infection rates is a “significant” risk of a “particularly short-term” decline. “The concern is that people will lose confidence in controlling the pandemic and stop doing activities that are concerned about the risk of contamination, and there is already evidence of that,” he said.

U.S. employment statistics have improved for the sixth month in a row, but the recent resurgence of infections could reduce economic activity and delay economic recovery.However, in terms of the development of the new crown vaccineIn response to positive news, the U.S. stock market hit a record earlier in the week.

U.S. retail sales grow for first time in October in six months — Personal consumption slows (1)

Powell said recent developments in vaccine development are good news, but there is still a “long way to go” to fully recover the U.S. economy from the pandemic. “We stay here with the financial authorities and take all possible measures. I have a strong commitment to use it.” “It could be very difficult in the coming months,” he said.

Powell, US Economic Risk Warning-Serious Conditions in the Coming Months (1)

He also proposed maintaining the emergency lending facility in the near future. With the exception of all FRB emergency funding facilities, it is anticipated that they will expire by the end of the year.

Original title:Powell said the strong spread is likely to be dangerous with the risks posed by the virus and 抜 粋)

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