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  • Crisis spending measures to confront the coronavirus pandemic are costly but worth the risk if they avoid even worse economic damage, Federal Reserve Chair Jerome Powell said Wednesday. As the shutdowns drag on, they could cause "lasting damage" to the US economy and more policies may be needed to deal with that possibility, including spending beyond the nearly $3 trillion already approved by Congress, he warned. "Additional fiscal support could be costly, but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery," Powell said in a speech. hs/cs
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  • Virus emergency spending costly but worth it: Fed's Powell
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