About: http://data.cimple.eu/news-article/60212b8c1d8a72979f705142779cd886c89e0931463f084236d4f81e

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About: http://data.cimple.eu/news-article/60212b8c1d8a72979f705142779cd886c89e0931463f084236d4f81e Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	The world's top economy may not see a full recovery without a vaccine to treat COVID-19, Federal Reserve Chair Jerome Powell said Sunday. After more than 30 million jobs were destroyed, as businesses were shuttered nationwide, the central bank chief warned it may take time to return to normal. "I think you'll see the economy recover steadily through the second half of this year," Powell said in an interview with the CBS news program "60 Minutes," part of which was broadcast Sunday morning. But "it's going to take a while for us to get back," he said. "It could stretch through the end of next year. We really don't know." Asked about the need for a vaccine to treat the illness and put a stop to the coronavirus pandemic, Powell stressed the importance of consumers to the economy. "For the economy to fully recover, people will have to be fully confident and that may have to await the arrival of a vaccine," he said. The Fed rushed in even before the economic lockdowns were fully in place, slashing the benchmark lending rate and pumping trillions of dollars into the financial system and into lending programs to support corporations, small- and medium-sized business and state and local governments. But Powell has repeatedly said the economy likely will need more government spending to support workers and businesses to allow the economy to recover, beyond the nearly $3 trillion already approved by Congress. The crisis "has come on 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," he told CBS. hs/jm
schema:headline	Fed's Powell: Economy may need vaccine for full recovery
schema:mentions	Lewis F. Powell Jr. 60 Minutes CBS Federal Reserve Pain United States Congress Pandemic Vaccine Severe acute respiratory syndrome coronavirus 2 Jerome Powell
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-05-17 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	75 (xsd:integer)

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