'We'll get through this. It may take a while,' Powell said in an interview. 'It could stretch through the end of next year.'
Federal Reserve Chairman Jerome Powell warned Americans that the economic downturn triggered by the coronavirus outbreak could last until the end of 2021 because recovery won't happen until people feel confident about their safety.interview Sunday, Powell expressed his belief that domestic economy recovery from the pandemic might not happen until late 2021."People will go back to work. Unemployment will get back down," he said."We'll get through this. It may take a while.
"This is a time of great suffering and difficulty," Powell continued,"and it's come on us so quickly and with such force, that you really can't put into words the pain people are feeling and the uncertainty they're realizing. And it's going to take a while for us to get back." In this screengrab taken from the Federal Reserve website, Chair of the Federal Reserve Jerome Powell issues the Federal Open Market Committee statement on April 29, 2020 in Washington, DC.
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