{"id":118047,"date":"2021-03-22T20:57:51","date_gmt":"2021-03-22T20:57:51","guid":{"rendered":"https:\/\/precoinnews.com\/?p=118047"},"modified":"2021-03-22T20:57:51","modified_gmt":"2021-03-22T20:57:51","slug":"fed-chair-powell-u-s-economy-looks-to-be-strengthening","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/fed-chair-powell-u-s-economy-looks-to-be-strengthening\/","title":{"rendered":"Fed Chair Powell: U.S. economy looks to be strengthening"},"content":{"rendered":"<figcaption class=\"Slideshow-description-447Md\">Slideshow <span>( 3 images )<\/span><\/figcaption><p>(Reuters) &#8211; The U.S. economy is \u201cmuch improved,\u201d Federal Reserve Chair Jerome Powell said on Monday, crediting Congress and the central bank both for providing \u201cunprecedented\u201d support, but at the same time warning that the recovery is still \u201cfar from complete.\u201d<\/p>\n<p>\u201cThe recovery has progressed more quickly than generally expected and looks to be strengthening,\u201d Powell said in remarks prepared for delivery to a congressional hearing on Tuesday morning. Household spending has risen, he said, and the housing sector has more than fully recovered.<\/p>\n<p>\u201cHowever, the sectors of the economy most adversely affected by the resurgence of the virus, and by greater social distancing, remain weak, and the unemployment rate \u2014 still elevated at 6.2% \u2014 underestimates the shortfall, particularly as labor market participation remains notably below pre-pandemic levels,\u201d he said. \u201cThe recovery is far from complete, so, at the Fed, we will continue to provide the economy the support that it needs for as long as it takes.\u201d<\/p>\n<p>Fed policymakers and many private forecasters are expecting a surge in spending and economic growth in coming months as more Americans get vaccinated and venture out. Powell underscored that expectation but at the same time reiterated the Fed\u2019s commitment to use \u201cour full range of tools to support the economy and to help assure that the recovery from this difficult period will be as robust as possible.\u201d<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/usa-fed-powell\/fed-chair-powell-u-s-economy-looks-to-be-strengthening-idUSN9N2JO00E\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Slideshow ( 3 images )(Reuters) &#8211; The<\/p>\n","protected":false},"author":3,"featured_media":118046,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fed Chair Powell: U.S. economy looks to be strengthening - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/fed-chair-powell-u-s-economy-looks-to-be-strengthening\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fed Chair Powell: U.S. economy looks to be strengthening - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Slideshow ( 3 images )(Reuters) &#8211; 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