The chairman of the Federal Reserve said the Fed’s job now is to make sure businesses of all sizes can have a bridge of support so that the economy can recover faster
Federal Reserve Chairman Jerome Powell said the U.S. economy “may well be in a recession,” but that the central bank is taking unprecedented action to help ensure economic activity can resume as soon as the coronavirus pandemic is under control.
“The virus is going to dictate the timetable here,” Mr. Powell said in a rare television interview, on NBC’s “Today” show Thursday morning. “The first order of business will be to get the spread of the virus under control, and then resume economic activity.”
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